FARMINGTON, N.M. - The City of Farmington's finance division received three awards from the Government Finance Officers Association. The awards are prestigious and nationally recognized as noteworthy accomplishments by governmental units. Attaining the awards is an extraordinarily challenging task and requires a skilled staff with the commitment to meet the GFOA’s standards criteria and submit the reports within the necessary time constraints. The reports exemplify the spirit of transparency and full disclosure of a governmental unit’s financial planning and actual results. The three awards are as follows:
- Certificate of Achievement for Excellence in Financial Reporting: the highest form of recognition in the area of governmental accounting and financial reporting. Its attainment represents a significant accomplishment by a government and its management. The City of Farmington's Fiscal Year 2018 Comprehensive Annual Financial Report is the City's 25th consecutive award. Less than 5% of U.S. local governments annually receive the Excellence in Financial Reporting award. Farmington is 1 of 18 New Mexico local governments to receive this award.
- Distinguished Budget Presentation Award: the highest form of recognition in governmental budgeting. The award recognizes exemplary budget presentation and documentation by state and local governments. The award reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. The City's Fiscal Year 2019 Budget Document is the City's 22nd consecutive award. Less than 2% of all governmental entities annually receive the Distinguished Budget Presentation Award. Farmington is 1 of 8 New Mexico local governments to receive this award.
- Award for Outstanding Achievement in Popular Financial Reporting: represents special recognition for a high-quality annual report specifically designed to be readily accessible and easily understandable to the City’s general public and other interested parties without a background in public finance. Popular annual financial reports are reviewed and judged based on creativity, presentation, understandability, reader appeal and the overall quality and usefulness of the report. The City of Farmington’s Fiscal Year 2018 Citizen’s Financial Report is the City’s 9th consecutive award. Less than .5% of all government entities nationwide recently received this honor. Farmington is 1 of 7 local governments in New Mexico to receive this award.
The finance division was recognized for these achievements during Tuesday’s City Council meeting.
For more information about the Government Finance Officers Association, visit gfoa.org.
Government Finance Officers Association is a major professional association servicing the needs of over 20,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services, and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, Illinois, with offices in Washington, D.C.