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Posted on: August 5, 2022

Finance receives Certificate of Achievement from GFOA

GFOA Certificate of Achievement for Excellence in Financial Reporting

The City of Lenoir Finance Department received a Certificate of Achievement for Excellence in Financial Reporting for the 31st consecutive year from the Government Finance Officers Association of the United States and Canada (GFOA).

The GFOA presented the award to the City for its most recent comprehensive annual financial report (CAFR) - Comprehensive Annual Financial Report Fiscal Year Ended June 30 2021 (PDF). An impartial panel judged the CAFR to meet the high standards of the program, which include demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.

“Finance staff put in a lot of hours to make sure that all of our financial reports meet the highest level of excellence, accountability, and transparency," Finance Director Donna Bean said. "We also post our reports and budgets online, so the public can review them. We appreciate being recognized for our efforts."

Lenoir's most recent CAFR contains 148 pages that cover financial details such as an auditor's report, revenue and expenditure statements, balance sheets, investments funds, and more. Previous CAFRs and budgets are available online in the City Archives Center.

The City Finance Department employs 13 people. Finance staff manages the City’s financial accounts; accounts payable, payroll, billing, and collections; collects utility bills and tax bills for 10,000  customers; handles payroll, billing, and collection functions; processes employment applications and maintains personnel records and benefits plans all staff; provides IT services for the City; and manages city insurance policies, safety programs, procurement, and purchasing.

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and represents a significant accomplishment by a government and its management. 

The Government Finance Officers Association 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 practitioners. It provides top quality 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.

Visit https://www.gfoa.org/ to learn more about the Government Finance Officers Association of the United States and Canada.

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