Title
Certificate of Achievement For Excellence in Financial Reporting &
Award of Financial Reporting Achievement
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
The Government Finance Officers Association (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 Certificate of Achievement Program Special Review Committee completed its review of the City of Foley's Comprehensive Annual Financial Report (aka CAFR). There are 17 categories that the Committee reviews and each category must be proficient in order to receive the award. This is a very prestigious award as there are only 14 cities in the State of Alabama that qualified to receive the award in 2013. Two awards were given. The first award is the Certificate of Achievement For Excellence in Financial Reporting and is presented to the City of Foley. The second award is the Award of Financial Reporting Achievement and is presented to Sue Steigerwald. We congratulate City for approving the CAFR, and Sue and her staff for the many valuable hours of work that went into the first CAFR. The report shows that the City has done its due diligence in being fiscally responsible with public funds. This is a great achievement and we congratulate the City and Sue and her staff on this most important achievement.