City of Sumter Receives Award for Excellence in Financial Reporting
SUMTER, SC (June 7, 2016) – The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Sumter, by Government Finance Officers Association of the United States and Canada (GFOA) for it's comprehensive annual finance report (CAFR).
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. In order to receive this award, a governmental unit must publish an easily readable and efficiently organized CAFR, the contents of which conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements.
“This is an award that all government financial entities strive to achieve” Mayor Joe McElveen stated. “I’m very proud of Beth Reames and her entire staff for working hard throughout the year to make sure that the City Council, City Manager, and City Staff have solid financial information, which is essential for good planning, execution of those plans, and the successes we are seeing in Sumter.
The City of Sumter’s CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL and Washington, DC.
For more on the City of Sumter’s CAFR visit http://www.sumtersc.gov/financial-publications.