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Government Finance Officers Association of the United States and Canada (GFOA) awarded the City of Santa Barbara the Certificate of Achievement for Excellence in Financial Reporting for its annual comprehensive financial report (ACFR) for the fiscal year ended June 30, 2021.
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 is the 34th year that the City has achieved this distinguished award, according to City Finance Director Keith DeMartini.
“There is a tremendous amount of work that goes in to producing this very complex set of financial statements, and I’d like to recognize the leadership and commitment of both Accounting Manager, Doug Smith, and Accounting Supervisor, Lynne Sparks, for getting it done, as well as the great collaboration with staff in all City departments. The City has made great strides in increasing the transparency and usability of financial and budget information in recent years and will continue to do so with future reporting enhancements,” DeMartini said.
GFOA provides best practices, professional development, resources, and practical research for its more than 21,000 members. The City’s recognized 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.