We are pleased to share that City of Goleta’s Comprehensive Annual Financial Report (CAFR) once again earned the City a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) for the fiscal year ending June 30, 2018. This is the 16th consecutive year the City has received this honor.
The repeat award is an example of how the City’s financial reports continue to demonstrate transparency and disclosure of City funds so that it is easy to understand how money is received, spent, and overall financial position. The CAFR is prepared by the City’s Finance Department and complies with principles and standards for financial reporting set forth by the Governmental Accounting Standards Board (GASB), and was audited in accordance with generally accepted auditing standards by an independent public accounting firm of licensed certified public accountants.
A Certificate of Achievement for Excellence in Financial Reporting is the highest form of governmental accounting and financial reporting recognition. The award was established more than 70 years ago by the Government Finance Officers Association to encourage and assist local and state governments to go beyond the minimum requirements of generally accepted accounting principles using the spirit of transparency and full disclosure.