City of Germantown
For the 32nd consecutive year, the Government Finance Officers Association of the United States and Canada (GFOA) has awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Germantown for its annual Comprehensive Financial Report for the fiscal year that ended June 30, 2020.
The City of Germantown is one of just 109 communities, out of 19,429 nationwide, that has earned this distinction for 32 years or more.
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.
GFOA, founded in 1906, represents public finance officials throughout the United States and Canada.
The association’s more than 19,400 members are federal, state/provincial and local finance officials deeply involved in planning, financing, and implementing thousands of governmental operations in each of their jurisdictions. GFOA’s mission is to advance excellence in state and local government financial management.