The City of Lakewood was recognized for excellence in governmental accounting and financial reporting by the Government Finance Officers Association of the United States and Canada(GFOA). The GFOA presented the award to Tho Kraus, Assistant City Manager of Administrative Service and Chief Financial Officer at the City of Lakewood, as the individual primarily responsible for preparing the 2014 Comprehensive Annual Financial Report . This award represents the highest form of recognition in governmental accounting and financial reporting, for providing accurate and transparent information in aiding the pursuit of financial well-being.
More background on the Certificate of Achivement for Excellence in Financial Reporting from the GFOA:
The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Lakewood by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
An award of Financial Reporting Achievement has been awarded to the individual(s), department or agency designated by the government as primarily responsible for preparing award-winning CAFR. This has been presented to Tho Kraus, Assistant City Manager/Administrative Services and the Finance Division.
The CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL and Washington, D.C.
Below are some stats for incorporate (based on latest information available):
GFOA awarded the Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ended 2014 to 4,181 organizations.
Of the 4,181 organizations, 2023 were and 532 were counties.
Of the 2,023 municipalities, 38 were from Washington. (Total municipalities in Washington State = 281)
Of the 532 counties, 10 were from Washington.