City receives national financial award for tenth time
For demonstrating openness, accountability and transparency in financial reporting, the City of Saskatoon has again received the 2016 Canadian Award for Financial Reporting from the Government Finance Officers Association (GFOA) of the United States and Canada.
“Our teams are committed to openness, financial transparency and to full disclosure in our yearly financial reporting, but we also aim to be innovative in our corporate reporting as a municipality,” says Clae Hack, Director of Finance. “We are proud to be recognized by our peers and receive this award for the tenth time.”
The GFOA presented the City with the Canadian Award for Financial Reporting for its 2016 Annual Financial Report recognizing the City’s ability to present financial information in a clear, concise and informative manner.
Receiving the GFOA financial reporting award represents a significant accomplishment by a government and its management. Its purpose is to encourage municipal governments to complete comprehensive annual financial reports that evidence the spirit of transparency and full disclosure.
“Our 2016 Financial Statements were prepared by our Finance Division, Asset and Financial Management Department,” Hack says. “With a team-approach in mind, we also partnered with our Employee Experience and Performance Division, Corporate Performance Department.”
The GFOA established the Canadian Award for Financial Reporting (CAnFR) Program in 1986 to encourage and assist Canadian local governments to go beyond the minimum requirements of generally accepted accounting principles, as set by the Public Sector Accounting Board of Canadian Institute of Chartered Public Accountants.
The GFOA is a non-profit professional association serving 17,400 government finance professionals in the United States and Canada, with offices in Chicago, Illinois and Washington, D.C.
Visit saskatoon.ca to view more City of Saskatoon financial reporting documents.