City Awarded the GFOA Certificate of Excellence
The Government Finance Officers Association of the United States and Canada (GFOA) announced that the City of Tulsa has received the Certificate of Excellence in Financial Reporting for its 2007 Comprehensive Annual Financial Report (CAFR).
This certificate represents a significant achievement by the City of Tulsa. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental reporting. In order to receive the certificate of excellence, the City of Tulsa had to satisfy nationally recognized guidelines for generally accepted accounting principles and program policies established by the GFOA.
The CAFR is a complete account of net worth for a government entity. It is a federal requirement on all local governments and is similar to the Annual Financial Report that publicly traded corporations are required to produce each year.
The Government Finance Officers Association is a non-profit professional association serving 16,800 government finance professionals throughout North America. The Certificate of Achievement for Excellence in Financial Reporting is specifically designed to encourage state and local governments to prepare and issue a comprehensive annual financial report of the highest quality.
This is the 25th consecutive year for the City of Tulsa to receive the GFOA Certificate of Excellence in Financial Reporting.