The Government Finance Officers Association (GFAO) recognized WeHo with a Certificate of Achievement for Excellence in Financial Reporting and an Award of Financial Reporting Achievement for its report on the fiscal year that ended June 30.
“This is the 20th consecutive year the city has been recognized with this achievement. The city’s CAFR (Comprehensive Annual Financial Report) is a set of detailed financial statements, which are accompanied by a thorough presentation of the city’s financial condition. In order to be awarded a Certificate of Achievement, which is the highest form of recognition in the area of governmental accounting and reporting, a government must publish an easily readable and efficiently organized CAFR, which must satisfy both generally accepted accounting principles and applicable legal requirements.
“The award comes just weeks after the City of West Hollywood and the West Hollywood Chamber of Commerce (WHCC) co-hosted the annual State of The City event, which affirmed the city’s sound fiscal position,” the city said in a press release that also boasted of WeHo recovering more quickly than most cities from the recession.
“The city is in excellent financial shape. We have solid budget numbers in every category with all the arrows pointing up,” WeHo Mayor John D’Amico said in the press release. “That is no small achievement and it’s no coincidence. I have, along with my colleagues on the Council and those that served before us, focused on developing a vibrant business-friendly community that reflects the community values of the residents. And that’s what we have done.”
The city’s annual financial reports are available on the city’s website.