Santa Monica Awarded the Certificate of Achievement for Excellence in Financial Reporting

November 15, 2023 2:47 PM

SANTA MONICA, Calif. (Nov. 15, 2023) — The Government Finance Officers Association of the United States and Canada awarded the Certificate of Achievement for Excellence in Financial Reporting last week to the city of Santa Monica for its annual comprehensive financial report for the fiscal year ending June 30, 2022.

The report was judged by an impartial panel to meet the high standards of the program, including demonstrating a constructive spirit of full disclosure to clearly communicate its financial story and motivate potential users and user groups to read the report.

The achievement is the highest form of recognition in the area of governmental accounting and financial reporting and represents a significant accomplishment by a government and its management. The city of Santa Monica has received this award each year for the last 39 years.

The city continues to carry the highest ratings of financial health for an organization from all three major credit rating agencies. In affirming the ratings, the agencies noted the city’s strong fiscal management even during the pandemic struggles.

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