College Park wins Excellence in Financial Reporting Award - CBS46 News

College Park wins Excellence in Financial Reporting Award

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The historic city of College Park has been awarded the distinguished Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA).

The award, which was presented on May 15, is based on College Park's submission of its Comprehensive Annual Financial Report (CAFR) for the 2016 fiscal year. College Park City Manager Terrence H. Moore stated:

“Recognition by the GFOA as noted continues to reflect the City of College Park’s solid financial management abilities and our overall fiscal acumen."

The CAFR is traditionally judged by an impartial panel of finance professionals.  According to a release by the GFOA, the panel examines a presentation’s “spirit of full disclosure” to assess the applicant’s comprehensive financial story and to gauge the readability for the end user. 

The announcement pleased College Park Mayor Jack P. Longino, who has touted the city’s finances during his annual “State of the City” address.

“Our residents expect us to be responsible with their funds, and this demonstrates our commitment to do so,” said Mayor Longino.  “We welcome the opportunity to share financial information with the College Park community and other stakeholders.  It’s the most basic level of transparency.” 

GFOA states that the award is a significant achievement by College Park, reflecting the city and staff’s commitment to meet the highest principals of governmental budgeting.

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