Edina, Minn., Feb 2, 2024 - The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the City of Edina’s Finance Department for its annual comprehensive financial report for the fiscal year ended Dec. 31, 2022.
The report was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
In order to win the award, the report must include all funds and component units of the entity, in accordance with generally accepted accounting principles. An introductory section, which includes a letter of transmittal; the financial section, which includes management’s discussion and analysis; a report of an independent auditor; the basic financial statements, including the notes to the financial statements; and a statistical section are required portions of the report.
The City of Edina has been awarded this award every year since 2012.
“Through annual preparation, collaboration and participation from staff City-wide, Finance is able to achieve this award for the City,” said Finance Director Pa Thao.
For more information on the City’s Finance Department or to review the annual comprehensive financial report, visit EdinaMN.gov/Finance.