For the 31st consecutive year, the Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Iowa City for its Comprehensive Annual Financial Report (CAFR) for the fiscal year that ended June 30, 2015. The Government Finance Officers Association (GFOA) awarded the Certificate of Achievement, the highest form of recognition in governmental accounting and financial reporting, for “significant accomplishment by a government and its management,” according to the letter announcing the award.
The CAFR is the document prepared after the fiscal year ends to report the City’s actual income, incurred expenses, and financial position in accordance with Generally Accepted Accounting Principles (GAAP). The FY2015 report is available for viewing at www.icgov.org/CAFR.
The GFOA established the awards program in 1945 to encourage state and local governments to exceed minimum accounting requirements by preparing comprehensive annual financial reports that provide transparency and full disclosure -- and then recognize municipalities, counties, states, school districts and other government entities that achieve that goal.
Annual financial reports submitted to the program for consideration for the award are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee, comprised of individuals with expertise in public sector financial reporting.
For more information, contact City of Iowa City Finance Director Dennis Bockenstedt at 319-356-5053 or firstname.lastname@example.org.