The Government Finance Officers Association (GFOA) recently announced that the City of Sidney, Ohio, has received Certificate of Achievement for Excellence in Financial Reporting for its comprehensive annual financial report for the fiscal year ended December 31, 2019.
The report 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 report.
The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
A Comprehensive Annual Financial Report is a set of U.S. government financial statements comprising the financial report of a state, municipal or other governmental entity that complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB). GASB provides standards for the content of a Comprehensive Annual Financial Report in its annually updated publication Codification of Governmental Accounting and Financial Reporting Standards.
City Manager Mark Cundiff shared, “The City of Sidney has been very fortunate to have had strong financial management for a very long time. I encourage residents to download and read the report. It’s available online here.
This marks the 21st consecutive year the city has earned this prestigious award.