District of Coldstream wins award for financial reporting

District of Coldstream awarded for their “spirit of full disclosure”

  • Dec. 4, 2017 1:06 p.m.

It’s not every year a government is awarded for their detailed financial reporting — unless you’re the District of Coldstream, that is.

For the seventh consecutive year, the Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Canadian Award for Financial Reporting to the District of Coldstream — this time for its 2016 Annual Report.

The Canadian Award for Financial Reporting program was established to encourage municipal governments throughout Canada to publish high quality financial reports and to provide peer recognition and technical guidance for officials preparing these reports.

Submissions are judged by impartial members of the GFOA’s Canadian Review Committee on their ability to meet the high standards of the program, and demonstrate a constructive “spirit of full disclosure” to clearly communicate a municipality’s financial story.

Such reports should go beyond the minimum requirements of generally accepted accounting principles and demonstrate an effort to clearly communicate the municipal government’s financial picture, enhance an understanding of financial reporting by municipal governments and address user needs.

The GFOA is a non-profit professional association that serves government finance professionals in the United States and Canada with offices in Chicago, Illinois, and Washington, D.C. The association is dedicated to enhancing and promoting the professional management of governments for the public benefit by identifying and developing financial policies and practices and promoting them through education, training and leadership.

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