The city of
Southfield was recently awarded the ‘Certificate of Achievement for
Excellence in Financial Reporting’ by the Government Finance Officers
Association (GFOA) for the City’s comprehensive annual financial report
(CAFR).
The Certificate of
Achievement is the highest form of recognition in the area of
governmental accounting and financial reporting. A panel of four
experts, drawn at random from a national list of designated judges,
carefully reviewed the City’s CAFR based upon a 42-page checklist of
criteria. The panel found the report to meet the high standards of the
program, including demonstrating a constructive “spirit of full
disclosure” that clearly communicates the City’s financial story.
“Receiving this
award is especially significant because it represents yet another
independent assessment of the City’s financial reporting,” commented
City Administrator Dale Iman. “During these difficult economic times,
it is imperative that we continue to make informed decisions based upon
solid financial data. The City of Southfield adheres to the highest
standards of financial reporting and this award clearly reflects that
commitment. Achieving this award also parallels the City’s primary
strategic plan goal of maintaining a ‘Financially Sound and Sustainable
City Government.’”
The GFOA is a
nonprofit professional association serving approximately 16,000
government finance professionals with offices in Chicago, IL, and
Washington, D.C.