Stillwater Finance Department Receives Top Recognition for Government Accounting and Financial Reporting, AGAIN!
The City of Stillwater has been awarded for the 42nd consecutive year, the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) of the United States and Canada. The City has received this honor every year since 1981, based on the quality of its Annual Comprehensive Financial Report, and the Finance Department works hard to maintain their perfect record.
The current award is based on the Annual Comprehensive Financial Report for Fiscal Year 2023, which ended June 30, 2023.
Assistant City Manager and Finance Director Christy Cluck attributes it to a history of outstanding finance professionals who have created a culture of excellence in the department.
“I continue to be proud of the high-quality work produced by our Finance team,” ACM Cluck said. “Their dedication to fiscal excellence and transparency every day is appreciated.”
The Certificate of Achievement program was established by GFOA – a professional organization dedicated to advancing excellence in government finance for its more than 21,000 members – in 1945 to encourage state and local government organizations to go beyond the minimum requirements of generally accepted accounting principles when preparing their financial reports. It recognizes those that succeed in producing reports consistent with “the spirit of transparency and full disclosure.”
The award is based on how clearly the information is presented, not the numbers themselves. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves, according to GFOA.
“Achieving this high recognition is a huge accomplishment and a reflection of the staff’s commitment to serve the community,” City Manager Kimberly Meek said. “They are committed to accountability and to ensuring that public dollars are used for intended purposes.”
The entries are judged by an impartial panel consisting of GFOA staff and committee members from another state who have expertise and experience in government financial reporting. To meet the high standards of the program, an annual comprehensive financial report must contain certain elements and must 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 the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
“This team continues to set high standards for themselves. I am fully confident that with their abilities, values and priorities, this streak will continue,” Cluck included.
