District of Coldstream (File photo/Vernon Matters)

By Pete McIntyre

11 straight years

Financial reporting at its finest in Coldstream

Apr 12, 2022 | 2:15 PM

The District of Coldstream has been honoured for its financial reporting for the 11th straight year.

The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Canadian award for Financial Reporting to the District for its 2020 Annual Report.

“This is the eleventh consecutive year the District has won the prestigious award and represents a significant accomplishment by the District and its management,” a news release from the municipality stated.

The award program was established to encourage municipal governments throughout Canada to publish high quality financial reports and to provide peer recognition and technical guidance for officials preparing these reports.

Submissions are judged by impartial members of the GFOA’s Canadian Review Committee on their ability to meet the high standards of the program, and demonstrate a constructive “spirit of full disclosure” to clearly communicate a municipality’s financial story.

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“Such reports should go beyond the minimum requirements of generally accepted accounting principles and demonstrate an effort to clearly communicate the municipal government’s financial picture, enhance an understanding of financial reporting by municipal governments, and address user needs,” the release added.

The GFOA is a non-profit professional association that serves government finance professionals in the United States and Canada, with offices in Chicago, Illinois, and Washington, D.C. The association advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve.