The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the City of Kennesaw the Certificate of Achievement for Excellence in Financial Reporting. Kennesaw has achieved this recognition for 18 years in a row.
Kennesaw City Manager Jeff Drobney said in a press release from the city, “Finance Director, Gina Auld, and her team work proactively to consistently provide accurate, complete, and timely financial information to our city leaders, residents, and businesses. This recognition is well deserved.”
According to the press release, “The Certificate of Achievement 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.”
What is the GFOA?
The GFOA represents public finance officials in the U.S. and Canada. It was founded in 1906 and has over 19,400 members. Their goal, stated on their website, is to provide “best practice guidance, consulting, networking opportunities, publications including books, e-books, and periodicals, recognition programs, research, and training opportunities for those in the profession.”
What is the Certificate of Achievement for Excellence in Financial Reporting
The GFOA website describes the award as follows:
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.
Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which comprises individuals with expertise in public sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.
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