For the fifth year in a row, the District of Coldstream is gaining accolades for its financial reporting.
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 for its 2014 Annual Report.
“This is the fifth consecutive year the District has won the prestigious award and represents a significant accomplishment by the District and its management,” states a release from Coldstream.
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.