Certificate of Achievement for Excellence in Financial Reporting Program

Certificate of Achievement for Excellence in Financial Reporting Program

The City of Urbana is proud to report that its finance department has received the Certificate of Achievement for Excellence in Financial Reporting Program award for fiscal year 2018.

Seen here in this picture are principal staff that contributed to this award: From the left, Jing Lin, city accountant; Kris Francisco, financial services manager, and Don Ho, financial systems analyst.

The Government Finance Officers Association established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist 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 and then to recognize individual governments that succeed in achieving that goal. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.

Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which comprises individuals with expertise in public sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.

For more about the City of Urbana Finance Department, go here.