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The City of Boca Raton recently received the highest recognition in government accounting from the Government Finance Officers Association (GFOA). For the 35th consecutive year, the City received the Distinguished Budget Presentation Award for 2018 and for the 36th consecutive year, received the Certificate Achievement for Excellence in Financial Reporting for the comprehensive annual financial report, or CAFR in 2017.
The awards represent a substantial achievement by the City, earning the highest form of recognition in governmental accounting and financial reporting. Both certificates reflect the commitment of the City and its Financial Services Department by providing full transparency, fiscal responsibility and by giving residents the most comprehensive information about how their tax dollars are distributed.
The Certificate of Achievement recognition was established to encourage state and local governments to exceed the minimum requirements of accounting principles by preparing comprehensive annual financial reports that show full transparency and disclosure. The goal of the program and of the City is provide taxpayers with confidence in their local government’s fiscal responsibility. The CAFR provides information on the General Fund, Water and Sewer Fund and the government’s other financial statements.
The Distinguished Budget Presentation Award pushes organizations to meet nationally recognized guidelines for effective budget presentations. These guidelines are designed to assess how well an entity’s budget serves as a policy document, a financial plan and how well it is communicated to taxpayers. The annual budget document process requires the collaboration of dozens of city staff members to outline Boca Raton’s $865 million-dollar budget, strategic initiatives and performance measures.
For more information on the Financial Services Department or to view the City’s annual budget documents or CAFRs, please visit the City’s Financial Services webpage. For quotes from Financial Services Director, Linda Davidson and Office of Management and Budget Director, Sharon McGuire view the Press Release (PDF).