The City of West Hollywood has been awarded with a Certificate of Achievement for Excellence in Financial Reporting and an Award of Financial Reporting Achievement by the Government Finance Officers Association of the United States and Canada (GFOA) for its Annual Financial Report for the Fiscal Year Ended June 30, 2020. This is the 27th consecutive year that the City has been recognized with this achievement.
“It’s exceptional that the City of West Hollywood has received high marks for its financial reporting – not only for this past year, but on a consistent basis for nearly three decades,” said City of West Hollywood Mayor Lauren Meister. “Our city prides itself on being forward-thinking, which is clearly demonstrated by our core values, innovative policies and programs, and continued leadership in social justice issues. All of this work, though, is built on the City’s solid financial management fundamentals, which includes a focus on fiscal responsibility, sound policies, and excellent reporting.”
The City’s Annual Financial Report is a set of detailed financial statements, which are accompanied by a thorough presentation of the City’s financial condition. The government must publish an easily readable and efficiently organized annual financial report, which must satisfy both generally accepted accounting principles and applicable legal requirements.
The report was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
The City of West Hollywood’s budgets, updates, and other financial reports are provided on the City’s website by visiting www.weho.org/budget and clicking on the Financial Reports & Budgets tab in the left sidebar. The City of West Hollywood’s Open Data portal includes a page dedicated to the City Budget at http://budget.weho.org. The portal provides easily accessible information about budgeted City revenues and expenditures in a user-friendly format.
For additional information about the Government Finance Officers Association and its Certificate of Achievement for Excellence in Financial Reporting Program (COA), please visit www.gfoa.org/coa-award.