PALMDALE – The city of Palmdale 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, 2020. It is the 31st consecutive year the city has achieved this certification.
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 includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
“Team Palmdale, with support from the City Council, continues to maintain strong fiscal policies,” said Palmdale’s City Manager J.J. Murphy. “All the hard work by our Finance Department has paid off again this year, with this award exemplifying their commitment to prudent financial planning, maintaining healthy reserves, and achieving outstanding bond ratings. It puts Palmdale in a great position to attract and retain new investments.”
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 five 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.
The GFOA is a major professional association servicing the needs of nearly 19,000 appointed and elected local, state and provincial-level government officials and other finance practioners. It provides publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, Illinois, with offices in Washington, D.C.
For more information on the GFOA, please contact Michele Mark Levine at 312-977-9700, or by email at mlevine@gfoa.org.
[Information via news release from the city of Palmdale.]
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