The City of Westminster achieves the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR)
The GFOA of the US and Canada reported in their February 22, 2018 Newsletter a congratulations to the Governments who have achieved the CAFR Award for the first time.
We congratulate The City of Westminster
Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program)
The GFOA 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.
Congratulations! The first one is always the hardest.