City Honored for Excellence in Financial Reporting

The following is a press release from the City of South Pasadena.

The Certificate of Achievement for Excellence in Financial Reporting has been awarded to City of South Pasadena by the Government Finance Officers Association of the

United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for the fiscal year ending June 30, 2011.

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.

An Award of Financial Reporting Achievement has been awarded to the individual(s), department or agency designated by the government as primarily responsible for preparing the award-winning CAFR. This has been presented to: David Batt, Assistant Finance Director.

“We’re very proud of this award and the hard work of our city staff,” said South Pasadena Mayor, Michael Cacciotti. “This award is a result of effective control measures that we have in place and a strong indicator of our good financial position,” added Cacciotti.

The CAFR has been 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 CAFR.  The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL, and Washington, D.C.         

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