City of Palmdale Receives 29th Consecutive Certificate of Achievement for Excellence in Financial Reporting by GFOA

June 28, 2019

 

PALMDALE – The City of Palmdale has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for the fiscal year ending June 30, 2018. It is the 29th consecutive year the City has achieved this certification.

The Certificate of Achievement 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.

“Strong fiscal policy and transparency are top priorities of our City Council,” said Palmdale’s City Manager Jim Purtee. “Our team in Finance has done an outstanding job in carrying out those priorities and it shows through our balanced budget, healthy reserves, grade AA bond ratings, and awards such as this.”

The City of Palmdale’s Finance Department is responsible for overall financial planning for the City, revenue administration, and budget control. The department also provides payroll services, purchasing, administration of the City's outstanding debt obligations, and acts in a fiduciary capacity for the Successor Agency to the Former Community Redevelopment Agency of the City of Palmdale, four assessment districts and five community facilities districts. The department also assists the City Manager in the preparation of the annual budget, invests City funds for both short and long-term purposes, and provides cash management for the City.

The GFOA is a major professional association servicing the needs of nearly 19,000 appointed and elected local, state and provincial-level government officials and other finance practioners. It provides top quality publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, Illinois, with offices in Washington, D.C.

For more information on the GFOA, please contact Mark Levine at 312/977-9700, or by email at mlevine@gfoa.org.

 

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