City given award for its elite financial reporting
The City of Prineville recently learned that it was given a top award in governmental accounting and financial reporting.
The Government Finance Officers Association (GFOA) recently awarded the city its Certificate of Achievement for the municipality's comprehensive annual financial report (CAFR). According to GFOA news release on the award, it 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."
The CAFR is an audited financial reporting document required of most municipalities each year, according to Liz Schuette, the City of Prineville's finance director. CAFR documents under consideration for the Certificate of Achievement are judged by an impartial panel, GFOA stated, to meet the high standards of the program, which includes "demonstrating a constructive spirit of full disclosure to clearly communicate its financial story and motivate potential users and user groups to read the CAFR."
The city is not new to receiving financial-based accolades from the GFOA. The municipality has won the Distinguished Budget Presentation Award 12 years in a row. However, the CAFR award is held in higher regard and is more difficult to attain.
"There is a lot of criteria to meet for this award," Schuette said, adding that it took them three attempts to finally win it.
"We are very happy that we finally received this prestigious award," she said.