The city of Sherwood has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada for its comprehensive annual financial report for fiscal year 2012.
This certificate 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. It is the first time that the city has been awarded this recognition since 2002-03.
Sherwoods award has been judged by an impartial panel to meet the high standard of the program including a constructive "spirit of disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the document.
"I want to congratulate Julie Blums, interim finance director who prepared our CAFR," said Sherwood City Manager Joe Gall. "Achieving this high level of recognition in financial reporting is another important step toward our goal of fiscal transparency and solid financial management."
Sherwood has also received similar recognition for its budget from the Government Finance Officers Association for many years, a nonprofit professional association serving approximately 17,500 government finance professional with offices in Chicago and Washington, D.C.