PALMDALE – The City of Palmdale’s Finance Department has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for the fiscal year ending June 30, 2016.
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.
The CAFR has been judged by an impartial panel to meet the high standards of the program, which include demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
“It’s quite an honor not only to be recognized by the GFOA, but also to be recognized 27 years in a row,” stated Palmdale’s City Manager Jim Purtee. “It speaks volumes of the importance we place on our fiscal matters, the direction we have received from our Mayor and Council, and the outstanding work of our Finance team.”
Palmdale’s Finance Department is responsible for overall financial planning for the city, revenue administration, and budget control. The department also provides payroll services, purchasing, administration of the city’s outstanding debt obligations, and acts in a fiduciary capacity for the Successor Agency to the Former Community Redevelopment Agency of the city of Palmdale, four assessment districts and three community facilities districts.
The department also assists the city manager in the preparation of the annual budget, invests city funds for both short and long-term purposes, and provides cash management for the city.
[Information via news release from the city of Palmdale.]