Cambridge recognized for financial reporting for 8th straight year

Posted on Wednesday March 06, 2024

For the 8th straight year, Government Finance Officers Association of the United States and Canada (GFOA) has awarded a Canadian Award for Financial Reporting to the City of Cambridge for its annual financial report for the fiscal year ended December 31, 2022.

The Canadian Award for Financial Reporting program was established to encourage municipal governments throughout Canada to publish high quality financial reports and to provide peer recognition and technical guidance for officials preparing these reports.

In order to be awarded a Canadian Award for Financial Reporting, a government unit must publish an easily readable and efficiently organized annual financial report, whose contents conform to program standards. Such reports should go beyond the minimum requirements of generally accepted accounting principles and demonstrate an effort to clearly communicate the municipal government’s financial picture, enhance an understanding of financial reporting by municipal governments, and address user needs.

Receiving this award represents a significant accomplishment by a local government and its management.

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