Richmond hits sweet 16 for financial reporting honours
12 March 2019
The City of Richmond’s excellence in financial reporting has been recognized once again with a pair of awards from the Government Finance Officers Association (GFOA) of the United States and Canada for its 2017 Annual Reports. It’s the 16th year in a row that the City has been honoured for its financial reporting.
The City produces two documents pertaining to its annual report. The official, longer-form annual report meets statutory financial reporting requirements established by the Province of BC. The annual report highlights document is a shortened version of the official report and is designed for broader public distribution.
Richmond received the GFOA’s Canadian Award for Financial Reporting for its 2017 Annual Report – the 16th consecutive year the City has received this honour. The City also received the association’s award for Outstanding Achievement in Popular Annual Financial Reporting for its 2017 Annual Report highlights document. This is the 9th year in a row that City has received this award and thus also received dual honours from the GFOA.
The financial reporting award program, established by GFOA, encourages municipal governments throughout Canada and the U.S. to publish high quality financial reports, and to go beyond the minimum statutory requirements, as set by the Public Sector Accounting Board of the Chartered Professional Accountants of Canada, to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure.
The awards were formally presented to Council at its meeting on Monday, March 11. Both versions of the 2017 report are available online at www.richmond.ca/cityhall/finance/reporting/reports or from City Hall upon request.