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City Receives Certificate of Achievement for Excellence in Financial Reporting

August 31, 2021 – 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 (“Annual Report”) for the fiscal year ended June 30, 2020. The Annual Report 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 Annual Report also includes an independent auditor’s report commenting on the fair presentation of the financial statements.

This is the sixth consecutive year that the City has earned the Government Finance Officers Association’s highest form of recognition in the area of governmental accounting and financial reporting. As in years past, the Annual Report was evaluated by an impartial panel of government finance professionals. Evaluations considered the extent to which the Annual Report complied with generally accepted accounting principles, as well as whether the Annual Report demonstrated a constructive “spirit of full disclosure” to clearly communicate the City’s financial story and motivate potential users and user groups to read the report.

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The Government Finance Officers Association (“GFOA”) is a major professional association servicing the needs of nearly 20,000 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.