The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Flint by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR).
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
“It says a lot about how committed we are to keeping the city a self-governing entity,” says Mayor Karen Weaver. “We do not take it lightly and we are always looking for ways to improve and get better, but we do appreciate that our efforts have not gone unnoticed. It shows just how well government that works for the people really works.”
This is the third year in a row that the City of Flint has been recognized for this achievement.
GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945, according to its website. The program “encourages and assists 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. Individual governments that meet those goals are recognized with the certificate,” the site says.
The program does not assess the financial health of participating governments. It ensures users of their financial statements have the information they need to do so themselves.