The Government Finance Officials Association of the United States and Canada ?GFOA, for its acronym in English? recently awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Redwood City for its comprehensive annual financial reporting for the fiscal year ending June 30, 2021.
This is the 35th consecutive year that Redwood City has received this prestigious award.
“I am proud that the city has received the GFOA Certificate of Achievement for Excellence in Financial Reporting for the past 35 consecutive years,” said Redwood City Manager Melissa Stevenson Diaz.
The local official stressed that "this award represents our continued interest and unwavering commitment to planning and conducting the City's financial operations in a responsible and sustainable manner."
The GFOA began the award program in 1945 to encourage and assist local governments to go beyond the minimum requirements of accounting principles to prepare comprehensive annual financial reports that demonstrate the spirit of transparency and full disclosure and to recognize governments individuals who achieve the goal.
The report was evaluated by a panel of experts who judged it to meet the program's high standards.
In order to receive a certificate of achievement, a government must publish a comprehensive, easy-to-read, and efficiently organized annual financial report.
In addition, the report must satisfy both generally accepted accounting principles in the United States of America and applicable legal requirements.
The City's 2021 Annual Comprehensive Financial Report is available online at www.RedwoodCity.org/FinanceReports.
The City's 2022 Annual Comprehensive Financial Report will be presented to the City Council in March 2023.
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