17 Years of Excellence in Financial Reporting

The City of Goleta is pleased to announce that our Finance Department was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) for the 17th straight year. The award is for our comprehensive annual financial report (CAFR) for the fiscal year ended June 30, 2019. The award embodies the City’s goal of demonstrating transparency and disclosure of City funds in our financial reporting so that it is easy to understand how money is received, where money is spent and overall financial position.

Goleta City Manager Michelle Greene said she is proud that our team of financial professionals is consistently able to meet the rigorous standards set by the GFOA. She said, “I am pleased to see the City of Goleta’s Finance Team recognized once again for its steadfast commitment to ensuring clear disclosure in financial reporting. This team understands the importance of breaking down the City’s financial information in an easily readable and efficiently organized comprehensive annual financial report. Their detailed and thorough work, day in and day out, is impressive and worthy of recognition.”

The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in governmental accounting and financial reporting. This award recognizes the City’s commitment to financial reporting and proven track record. 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.

Governments who want to be considered for this award must submit their report within six months of the end of the fiscal year and must satisfy both generally accepted accounting principles and applicable legal requirements. The review process takes another four to six months. Learn more about the Certificate of Achievement award at www.gfoa.org/cafr. The City’s Comprehensive Annual Financial Report can be found here.

In addition to the Comprehensive Annual Financial Report, the Finance Department has a number of responsibilities. Their primary function is to ensure the financial integrity of the City of Goleta by providing superior financial services, maintaining the public trust, and promoting governmental efficiency, effectiveness, and accountability. The department is responsible for the maintenance of an effective financial accounting system, which accurately reflects the financial operations of the City and offers a framework for financial planning and analysis. The Finance Department also oversees and handles the investment program for the City and functions as the City’s purchasing department. The primary goal is providing accurate, reliable, and timely financial information for City Council, City Manager, City staff, and outside requests using professional standards.

More information on the City’s Finance Department is available at www.cityofgoleta.org/city-hall/finance.