August 13, 2022

Lakewood Recognized for Excellence in Financial Reporting – The Suburban Times

Town of Lakewood announcement.

The Association of Government Financial Officers of the United States and Canada (GFOA) has awarded the Certificate of Excellence in Financial Reporting to the City of Lakewood for its Fiscal Year 2020 Comprehensive Annual Financial Report.

The report was judged by an unbiased panel, demonstrating a constructive “spirit of full disclosure”, clearly communicating a financial story, and motivating the reader to explore the report.

The Certificate of Achievement is the highest form of recognition in government accounting and financial reporting. Its achievement is a significant achievement for a government and its leadership.

The City received this award consecutively for fiscal years 2013 to 2020.

According to the GFOA, 4,169 Certificates of Achievement were awarded for fiscal year 2020. 25 (0.6%) were awarded to cities and towns in Washington State. Of 281 cities and towns in Washington state, only 9% have won the award.

The GFOA also recognized the City for its popular Fiscal Year 2020 Annual Financial Report (PAFR). The PAFR program encourages governments to produce accessible and understandable financial reports. The aim is to provide important information to interested parties without a background in finance. Through its awards programs, the GFOA rewards governments that achieve this goal.

Ed Selden carpet one

“These awards are representative of the City’s insight and management of taxpayers’ money. Our consistency in earning them is powerful proof of our commitment to excellence and transparency.
Tho Kraus, Deputy City Manager