Tuesday, September 10, 2019

City celebrates participation trophy for financial statements

City of Encinitas press release:
Monday, Sept. 9, 2019

CITY OF ENCINITAS EARNS RECOGNITION FOR EXCELLENCE IN FINANCIAL REPORTING
Highest honor in the area of governmental accounting and financial reporting


Encinitas, CA - An Award of Financial Reporting Achievement has been awarded to the City of Encinitas Finance Department for their role in preparing the award-winning comprehensive annual financial report. The City was awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its Fiscal Year 2017-2018 comprehensive annual financial report (CAFR). The Certificate of Achievement is the organization's highest form of recognition for governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

"The City of Encinitas prides itself on the critical role and responsibility it has to properly manage and report the City's finances," said Mayor Catherine Blakespear. "Encinitas residents and business owners deserve the best accounting and financial reporting available. This honor demonstrates our commitment to manage the City's finances in the most transparent and efficient way."

The City's CAFR was judged by an impartial panel of GFOA members and staff 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 CAFR.

For more information about the GFOA Certificate of Achievement, please contact Michele Mark Levine at (312) 977-9700 or mlevine@gfoa.org.


Government Financial Officers Association:
GFOA congratulates the 4,328 organizations awarded the Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ended 2017.
UPDATE: 67.46% of cities in Encinitas' size range get the award. It's unclear whether any of the other 33% of cities participated, but the correlation of award rate and size of city is strongly suggestive that many cities don't bother to participate.

18 comments:

  1. This is another one of the phony awards that the city periodically give itself from an organization it is a member of. The 4,328 (!) awards given says it all. Everybody gets one. Let's pat ourselves on the back.

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  2. Well, there are about 19,000 member agencies, so not "everyone" gets an award.

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  3. 23% < 100%, therefore not everyone gets an award. Thanks fake news 7:43 AM.

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  4. A CAFR either does or does not meet requirements. It's a binary pass-fail. There is no "excellence."

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  5. This comes across to me as an act of desperation that they feature these meaningless awards. So this comes across like the student who boasts about his or her 77% grade, which is a "C".

    Considering the amount of "F" work at the City, maybe the think they have something to crow about.

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  6. Worst City Hall Management in all of CA. The City Manager is a total ineffective spaz

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    Replies
    1. Directed by the mayor.

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    2. As elected by the voters of Encinitas.

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    3. Absolutely correct, 10:33. Sad, but true. Most voters are asleep regarding local politics and take her at her word. She knows and counts on this and her weekly propaganda reports serve to further the illusion that all is well.

      Something needs to change in 2020 and folks are actively working to make this happen.

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  7. What is not seen is the spend on consultants. Especially in Planning. Out-sourcing liability! Building deniability! It's all for sale.

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  8. I smell a financial leftist RAT.

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  9. Lol when has the city NOT covered up shaky financials and refused to explain discrepancies.

    The "we don't do forensic accounting" comment was made under $tock$ who also claimed our finances were "in fine shape." Believe that's the line they all learn.

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    1. “Forensic Accounting”

      You keep using this phrase.

      I do not think it means what you think it means.

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    2. Seems apt to me:

      Forensic accounting is simply a specialty field within the broader arena of accounting. ... The types of crimes forensic accountants investigate are classified as "crimes against property." They investigate crimes such as fraud and give expert testimony in court trials. They also perform work related to civil disputes.

      What do YOU think it means, 1:24? And FYI - I don't "keep using this phrase," but am reminded it every time I read the mayor's gobbledygook.

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    3. 4:27,

      So by your definition, to have a forensic audit you need to be investigating a crime.

      What crime?

      I’m unaware of any indictments or convictions.

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  10. The city applies for these awards. It's not done automatically. Most members don't bother sending an application. This is all driven by the City Manager to justify salary increases.

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    Replies
    1. Maybe we should hire a consultant to apply for more meaningless awards!

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