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CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING Government Finance Officers Association '-- ' -'.. 1994 RESULTS The Certificate of Achievement for Excellence in Financial Reporting is an award designed to recognize and encourage excellence in financial reporting by state and local · governments. The attainment ora Certificate of Achievement represents a significant accomplishment for a government and its management. -. - , The Certificate &Achievement for Excellence in Financial Reporting Program(Certificate Program) was established by the Government Finance Officers Association (GFOA) in 1945. The GFOA instituted the program to encourage all government units to prepare and publish an easibly readable and understandable comprehensive annual financial report (CAFR) coveting all funds and financial transactions &the government with GAAP. These reports are also required to have'been audited in accordance with generally accepted auditing standards, with the auditor taking at least an "in relation to" responsibility for combining, individual fund and account group presentations. To earn a Certificate of Achievement, a CAFR should give a clear and thorough view of the government's finances. Award-winning reports should enhance the reader's understanding of the information required by GAAP for fair presentation of the financial statements, be efficiently organized and adhere to certain generally accepted terminology and formatting conventions. The Certificate Program provides participants with extensive technical_, reference material on governmental accounting and financial reporting theory. This material provides finance officials with during the fiscal year. The GFOA believes that governments the tools they need to improve their financial reporting have a special responsibility to provide the public with a fair ''' .' ..':. techniques. ~ .... .:,..., ':, ' presentation of their financial affairs. CAFRs go beyond the :' :;'. :-; :, ~', . :' ,.. ,' :?~:,..-':.,._: requirements of generally accepted accounting principles~ (GAAP) to provide the many users of government financial statements with a wide variety of information useful in evaluating the financial condition of a government. ' To be eligible for a Certificate &Achievement, a report must be the published CAFR of a unit of government or a public employee retirement system. Eligible CAFRs must include general purpose financial statements presented in conformity To participate in the Certificate Program, government units must complete an application form and submit four copies of their CAF1L with the appropriate fee, to the GFOA for review by the Certificate Program's Special Review Committee. Applications can be obtained from the GFOA's Certificate i.:. Program staff in Chicago (312/977-9700). Submissions must be postmarked within six months of the government's fiscal year end. . AWARD WINNERS FOR THE FISCAL YEARS ENDED IN 1993