COMMUNITY NEWS

City of Concord financial reporting recognized for 28th consecutive year
Friday, May 5, 2017

CONCORD – The City of Concord was recently announced as one of the entities to receive the Government Finance Officers Association of the United States and Canada’s (GFOA) Certificate of Achievement for Excellence in Financial Reporting. This is the 28th consecutive year that Concord has earned the honor. Concord's most recent award is for its comprehensive annual financial report for the fiscal year ending June 30, 2016.

Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee, which includes financial statement preparers, independent auditors, academics, and other finance professionals with expertise in public sector financial reporting.

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 award "is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents significant accomplishment by a government and its management," said GFOA’s Todd Buikema in a notification letter to City Manager Brian Hiatt.  "We hope that your example will encourage other government officials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting."

"The City's financial report demonstrates our organizational accountability and transparency, upheld by many coworkers and our elected officials," said Hiatt. "In particular, I thank Finance Director Pam Hinson and Deputy Finance Director Jessica Jones for our continued leadership in governmental accounting and financial reporting."

"The Finance team works with all City departments to prepare a financial report that everyone can be

proud of," said Hinson. "We appreciate all the support we receive from the management team as well as our Mayor and City Council, and look forward to working as a team once again on another report and another opportunity to receive this award."

Beyond the CAFR, the City of Concord is generally known for financial excellence among its peer organizations, including 15 consecutive years of receiving the GFOA's Distinguished Budget Presentation Award.

The formal acceptance of the award and recognition of staff will be on the agenda for the June 8 City Council meeting. For more information about Concord’s Finance Department, visit concordnc.gov/Departments/Finance.