For the 19th year in a row, the city of Waterloo was awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the U.S. and Canada.
City of Waterloo awarded for excellence in financial reporting
This is the highest form of recognition in the area of governmental accounting and financial reporting. Attaining it represents a significant accomplishment by a government and its management.
The honor is based on the city's annual comprehensive financial report for the fiscal year which ended June 30, 2022. The report has been 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.
An Award of Financial Reporting Achievement was also presented to the Finance Department overseen by Bridgett Wood.
The award was established in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports in a spirit of transparency and full disclosure. It then recognizes individual governments that succeed in achieving that goal.