City Receives Awards for Excellence in Financial Transparency and Reporting

Release Date: January 31, 2018

The City of Sammamish is pleased to announced that once again the Government Finance Officers Association has awarded the City Finance Department with the GFOA's Distinguished Budget Presentation Award, and the Certificate of Achievement for Excellence in Financial Reporting for the Comprehensive Annual Financial Report (CAFR).

 

This is the eighth time the City has been awarded the Distinguished Budget Presentation Award. The City of Sammamish is on a biennial budget cycle, making the City eligible for this award every two years. The City has been the recipient of this national award every two years since producing the 2003-2004 biennial budget document.  In addition to the Budget award, the City has received the Excellence in Financial Reporting Award for eight consecutive years, beginning in 2009.

 

“I want to acknowledge the dedicated staff of the City’s Finance Department, and their continued commitment to achieving the highest standards of financial planning and transparency,” said City Manager Lyman Howard. 

 

The Distinguished Budget Presentation Award reflects the City’s commitment to meeting the highest principles of governmental budgeting. In order to receive the budget award, the City had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well a budget serves as:

 

  • a policy document
  • a financial plan
  • an operations guide
  • a communications device

 

Budget documents must be rated "proficient" in all four categories, and in the fourteen mandatory criteria within those categories, to receive the award.

 

The Certificate of Achievement for Excellence in Financial Reporting 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 has been 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 CAFR.

 

For more information on the CAFR visit the City Finance Department page on the City website.

 

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