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The original item was published from 2/27/2020 4:37:41 PM to 2/27/2020 4:39:31 PM.

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2019 - Homepage News Flash

Posted on: February 27, 2020

[ARCHIVED] City’s 2018 CAFR earns achievement

Homepage News - budget book - Karey and Dee

The Certificate of Achievement for Excellence in Financial Reporting has been awarded to City of Hot Springs by Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for the fiscal year ending on December 31, 2018.

The Certificate of Achievement, which the City has earned for 26 consecutive years, is the highest form of recognition in the area of governmental accounting and financial reporting, representing a significant accomplishment by a government and its management. In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized CAFR, the contents of which conform to program standards.

“The preparation of the comprehensive annual financial report is a team effort of the City’s Finance Department and management team. Credit must also be given to the Mayor, Board of Directors, the City Manager and other City staff for their unfailing support for maintaining the highest standards of professionalism and integrity in the management of the City of Hot Springs’ finances,” said Dorethea Yates, director of the City’s Finance Department.

Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 20,500 members and the communities they serve.

Photo: Karey Lookadoo, budgeting and financial reporting accountant, left, and Dorethea Yates, director, of the City’s Finance Department display the 2018 annual comprehensive financial report, which has earned the Certificate of Achievement for Excellence in Financial Reporting.

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