City Receives Award for Financial Reporting for a Second Time
The City of Duncan has once again been awarded the Canadian Award for Financial Reporting from the Government Finance Officers’ Association of the United States and Canada for the year ended in December 31, 2012.
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.
“Council is proud that once again the City has met this standard of excellence and represents a significant accomplishment by the management staff,” said Mayor Phil Kent.
In order to be awarded a Canadian Award for Financial Reporting, a government 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.