Serving the community since 1922

City Finance Department honored with professional award

The City of Wasco has been awarded the prestigious Annual Comprehensive Financial Report award for 2022. This achievement marks a significant milestone for the city, since it was last recognized in 2012.

"This award is a testament to the dedication and hard work of every member of our team. Over the years, we've faced challenges such as frequent staffing shortages and frequent leadership turnover within the Finance Department, making this achievement even more remarkable," Finance Director Isarel Perez-Hernandez said.

"However, through perseverance and teamwork, we have once again secured this highly coveted award from the Government Finance Officers Association. A certificate is awarded only if there is consensus among reviewers that an annual comprehensive financial report substantially complies with both Generally Accepted Accounting Principles and program policy."

The award was based on the accuracy and completeness of financial statements, compliance with legal and regulatory requirements, demonstration of fiscal responsibility and accountability, timeliness in preparing and submitting financial reports, use of best practices in financial management and reporting, adequate disclosure of financial information, presentation of financial information in a clear and understandable manner, overall quality and professionalism of financial reporting, use of technology to enhance financial reporting processes, incorporation of forward-looking financial projections or analyses, evidence of continuous improvements in financial reporting practices and implementation of recommendations from previous audits or reviews, among other criteria.

Perez-Hernandez attributed the success to three factors, "The unwavering support and collaboration of all city departments, consistent leadership within the finance department since 2020, and the successful recruitment of talented individuals passionate about their work."

He said that since 2020, these three ingredients have laid the foundation for their success and have culminated in this significant accomplishment.

Perez-Hernandez explained that the benefits of winning the ACFR are numerous. "Not only does it enhance stakeholder trust and boost credibility in the financial community, but it also strengthens investor confidence and positions us competitively for grants. Moreover, it serves as a testament to our commitment to regulatory compliance and attracts top talent to our organization."

He credited the entire city government for the accolade. "To each department for their contributions to this success," he said. "Your dedication has been instrumental in achieving this milestone and highlights both our city's financial strength and the exceptional individuals driving our success."

 

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