The City of La Palma has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its annual comprehensive financial report ending June 30, 2022. The financial report was judged by an impartial panel 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 report. 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. The City’s ACFR for fiscal year ended June 30, 2022, can be found on the City’s website.
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
The GFOA, founded in 1906, represents public finance officials throughout the United States and Canada. GFOA’s mission is to advance excellence in public finance by providing best practices, professional development, resources, and practical research for their members and the communities they serve. To learn more about GFOA, please visit GFOA’s website at www.gfoa.org.