Two Centennial Financial Documents Recognized for Excellence
Published on June 23, 2023
The City of Centennial has recently been awarded two prestigious recognitions by the Government Finance Officers Association (GFOA) - the Distinguished Budget Presentation Award for the 2023 budget and the Certificate of Achievement for Excellence in Financial Reporting for its 2021 Comprehensive Annual Financial Report. The Distinguished Budget Presentation Award is a significant achievement as it reflects the City’s commitment to meet the highest principles in governmental budgeting. To receive this award, the City had to demonstrate how well the budget document serves as a policy document, financial plan, an operations guide and a communications device. The City rated “proficient” in all four of these nationally recognized guidelines for effective budget presentation.
The Certificate of Achievement is the highest form of recognition awarded and represents a significant accomplishment by a government and its management. This Certificate reflects Centennial’s commitment to transparency and accountability. The Comprehensive Annual Financial Report consists of the City’s financial activities including government wide financial statements, independent auditor’s report, statements of revenues, expenditures and changes in fund balance for each of the City’s funds. All financial data is available in this report. More information is available on the City website.
“Receiving these two recognitions is a result of sound financial policies and prudent financial planning. Fiscal sustainability is a strategic goal for Centennial and it is tremendously important the City is fiscally responsible to our citizens,” says City Manager Matt Sturgeon. “Centennial is committed to financial transparency. This is shown through the Open Finance portal that provides opportunity for the community to view the City’s revenues, expenditures and more.”
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 readers of the annual finance report.
The GFOA is a nonprofit professional association representing public finance officials throughout the United States and Canada. The associations’ more than 20,000 members are federal, state/provincial and local finance officials involved in planning, financing and implementing thousands of governmental operations in each of their jurisdictions. GFOA’s mission is to advance excellence in public finance.