Palm Coast - The City of Palm Coast's Financial Services Department just received an award for Excellence in Financial Reporting from the Government Finance Officers Association.
The GFOA sent the city a Certificate of Achievement, which is the highest form of recognition in the area of governmental accounting and financial reporting. This represents a significant accomplishment by a government and its management.
"Congratulations for having satisfied the high standards of the program," according to the GFOA in an emailed notice. "We hope that your example will encourage others in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting,"
A Financial Reporting Achievement was also awarded to the department and its director, Helena Alves, which were responsible for preparing the comprehensive annual financial report or CAFR. To receive this achievement, the CAFR 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 tell its financial story and motivate potential residents and community groups to read it. This is the 18th consecutive year the city has earned this award.
"This award reflects our department's commitment to accountability and transparency to our residents, and is achieved through the support of my team and our leadership," Alves said.
The GFOA advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 20,500 members and the communities they serve.
The CAFR can be viewed online at https://www.palmcoastgov.com/government/finance/audit-report.