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Apple Valley receives award for financial reporting

Post Date:04/13/2017 11:31 AM

When it comes to responsible accounting and providing clear, informative financial reports, the Town of Apple Valley is among the best in the nation and has recently won two awards that backs those claims.

This marks the 14th year in a row Apple Valley has earned a Certificate of Achievement for Excellence in Financial Reporting (CAFR) and the fourth time it has consecutively earned the Distinguished Budget Presentation Award from the Government Finance Officers Association of the United States and Canada.

“Receipt of these awards again serves to underscore the Town’s commitment to excellence in public service, complete transparency in our operations and accountability to the public,” said Marc Puckett, Assistant Town Manager of Finance and Administration.

The CAFR award is granted each year by the Government Finance Officers Association of the United States and Canada. Only the top 4.7% of the nation and top 11.6% of California government agencies achieve this honor.  It is the highest form of recognition in the area of governmental accounting and financial reporting, and represents a significant accomplishment by a government and its management. Nationwide, there are 90,056 local government agencies eligible for the award. Of those, 4,231 received the award. In California, only 512 of the 4,425 eligible local government agencies received the award.

The CAFR was judged by an impartial panel to meet the high standards of the program including demonstrating a constructive spirit of full disclosure to clearly communicate its financial story and motivate potential users and user groups to read the document.

The Distinguished Budget Presentation Award is granted to organizations that satisfy nationally recognized guidelines for effective budget presentations. These guidelines assess how well an entity’s budget serves as a policy document, a financial plan, an operations guide and a communications device. Budget documents must be rated as proficient in all four of these categories as well as fourteen mandatory criteria within those categories to receive the award.

The Government Finance Officers Association is a nonprofit professional association serving approximately 19,000 government finance professionals with offices in Chicago, IL, and Washington, D.C.