Marietta City Schools’ Financial Services Department recently received the Certificate of Achievement for Excellence in Financial Reporting for 2018 by the Government Finance Officers Association of the United States and Canada (GFOA) for its Comprehensive Annual Financial Report (CAFR).
This is the fifth consecutive year the department has received this recognition.
The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in the area of governmental accounting and financial reporting. Receiving this Certificate of Achievement for Excellence shows a significant accomplishment by a government and its management.
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. The goal of the program is to recognize entities that must meet the high standards of the program, including demonstrating a constructive “spirit of full disclosure” to plainly communicate its financial story while motivating potential users and user groups to read the CAFR.