Champaign wins financial award

June 10, 2018 by  

Once again, the City of Champaign has claimed a Certificate of Achievement for Excellence in Financial Reporting, a honor given by the Government Finance Officers Association of the United States and Canada (GFOA).

The city, according to an article on its website, won the award for its Comprehensive Annual Financial Report (CAFR).

The certificate is the highest award a municipality can win for its financial reporting and governmental accounting, so marks a major accomplishment. This is the 26th year in a row Champaign has been honored by the GFOA for its outstanding reporting.

In addition to presenting an award to the city, the GFOA also honored the person who had the primary responsibility for preparing the report; in this case, the honor went to Carrie Siems, Champaign’s Financial Services Manager/City Accountant.

The CAFR is judged by an impartial panel, which checks to make certain it meets the program’s standards. One of these is making sure the report was written in “spirit of full disclosure” so that the financial situation of the city is clear, and people are motivated to read the CAFR.

The city’s finance director, Kay Nees, accepted the award on behalf of the city, saying she was “very proud” of the finance department and the work it has done.

Occasions like this give officials an opportunity to modify official letterheads to include the honor, if they wish to do so.