The City of Laguna Woods is pleased to announce that it has received the Government Finance Officers Association of the United States and Canada’s “Certificate of Achievement for Excellence in Financial Reporting” for its Comprehensive Annual Financial Report (“CAFR”) for the fiscal year ended June 30, 2017. The CAFR presents the City’s annual financial statements in greater detail than required by law and in conformity with guidance issued by the Governmental Accounting Standards Board. The CAFR also includes an independent auditor’s report commenting on the fair presentation of the financial statements.
This is the third consecutive year that the City has earned this prestigious award. As in years past, the City’s CAFR was evaluated by an impartial panel of government finance professionals. Evaluations considered the extent to which the CAFR complied with generally accepted accounting principles, as well as whether the CAFR demonstrated a constructive “spirit of full disclosure” to clearly communicate the City’s financial story.
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The Government Finance Officers Association (“GFOA”) is a major professional association servicing the needs of nearly 19,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners. It provides services, training programs, publications, and products designed to enhance the skills and performance of those responsible for government finance policy and management. GFOA is headquartered in Chicago, Illinois, with offices in Washington, D.C.