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<br />Page 1 of 2 <br /> <br /> PUBLIC PRESENTATION – 3C <br /> <br /> MEMORANDUM <br /> <br />DATE: June 26, 2017 <br /> <br />TO: Honorable Mayor and City Council <br /> William S. Joynes, Sr., City Administrator <br /> <br />FROM: Dave Perrault, Interim Director of Finance and Administrative Services <br /> <br />SUBJECT: GFOA Financial Awards Presentation <br /> <br /> <br />Background <br /> <br />The Government Finance Officers Association of the United States and Canada (GFOA) <br />has three award programs which promote best practices in Budget and Financial <br />reporting. <br /> <br />The Certificate of Achievement for Excellence in Financial Reporting or CAFR award is <br />for entities whose Comprehensive Annual Financial Report (CAFR) achieves the highest <br />standards in government accounting and financial reporting. This is our financial <br />statement. <br /> <br />The Award for Outstanding Achievement in Popular Annual Financial Reporting, or <br />PAFR, is given to entities who publish a Popular Annual Financial Report (PAFR) whose <br />contents conform to program standards of creativity, presentation, understandability and <br />reader appeal. This report is primarily for the “non-finance” person in an easy to <br />understand format. We send this report out annually in our newsletter. <br /> <br />The Distinguished Budget Presentation Award represents a significant achievement by <br />the entity. It reflects the commitment of the governing body and staff to meet the highest <br />principles of governmental budgeting. In order to receive the budget award, the entity <br />had to satisfy nationally recognized guidelines for effective budget presentation. These <br />guidelines are designed to assess how well an entity’s budget serves as a policy <br />document, financial plan, operations guide, and a communications device. <br />