Once again the City of Lakewood was recognized by the Government Finance Officers Association of the United States and Canada (GFOA) for its financial reporting.
Certificate of Achievement for Excellence in Financial Reporting
The City received a Certificate of Achievement for Excellence in Financial Reporting (CAFR) for fiscal year 2017. This award is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
An impartial panel judges the financial documents to meet the high standards of the program. That includes reviewing the financial reporting to determine whether it provides a clear and transparent financial story and motivates potential users and user groups to read it. The Certificate of Achievement is valid for a period of one year only.
Previously the City received the award in 2005, 2013, 2014, 2015, 2016 and 2017.
The City will continue to produce this report and submit annually to GFOA to determine its eligibility for another certificate.
Popular Annual Financial Reporting
The City also received an award for Outstanding Achievement in Popular Annual Financial Reporting from the GFOA for fiscal year 2017. This is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government popular reports.
In order to receive this award, a government must publish a Popular Annual Financial Report (PAFR) that conforms to program standards of creativity, presentation, understandability, and reader appeal.
Like the CAFR, this award is valid for a period of one year only. The City previously received this recognition in 2016, the first year it applied.
The City will continue to produce this report and submit annually to GFOA to determine its eligibility for another award.