City Finance Department Wins Excellence Award

The City of San Angelo’s Finance Department has earned the Certificate of Achievement for Excellence in Financial Reporting for its 2013 comprehensive annual financial report from the Government Finance Officers Association of the United States and Canada.

The award is the highest form of recognition in governmental accounting and financial reporting, and its attainment “represents a significant accomplishment by a government and its management,” the GFOA said in a letter to the City.

The City’s comprehensive annual financial report is the annual compilation of financial statements into a report that complies with standards set by the Governmental Accounting Standards Board. It is audited by external auditors and approved by the City Council each year. The CAFR for the fiscal year that ended Sept. 20, 2013, demonstrates “a constructive ‘spirit of full disclosure’ to clearly communicate its financial story and motivate potential users and user groups to read the CAFR,” the GFOA said.

“This is great news for the City’s Finance Department, but it’s even better news for our citizens,” Finance Director Tina Bunnell said. “The sort of review and recognition that accompanies this honor should give citizens assurance that their tax dollars are being managed efficiently, effectively and transparently.”

The 2013 CAFR, along with that of prior years, can be read at cosatx.us/finance.

The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals across North America.

The award represents the fourth honor garnered by the Finance Department since May. Previously, the department earned:

• The Gold Leadership Circle Award for financial transparency from the state comptroller.
• The Distinguished Budget Presentation Award for the City’s 2013-14 budget from the GFOA.
• A certification of the City’s investment policy from the Government Treasurers’ Organization of Texas.