Newton receives financial reporting award for 30th consecutive year
NEWTON, N.C. – For the 30th consecutive year, the city of Newton has been awarded the prestigious Certificate for Excellence in Financial Reporting.
The Newton Finance Department was presented with the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for the city’s comprehensive annual financial report for fiscal year 2014. Attainment of the certificate represents a significant accomplishment by a government and its management, according to GFOA.
The GFOA established the certificate program in 1945 to encourage and assist governments to go beyond the minimum requirements of generally accepted accounting principles. Newton’s comprehensive annual financial reports are evidence of the city’s spirit of transparency and dedication to full disclosure.
An impartial panel awards the certificate after determining whether a government meets GFOA’s high standards and demonstrates a constructive spirit of full disclosure to clearly communicate its financial story and motivate people to read its annual financial report.
The GFOA is a nonprofit professional association that serves about 17,500 government finance professionals throughout North America.