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Home My WebLink About03. Receive the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for Fiscal Year 2021-22Page 1 of 7 Item 3. LICENTRAL SAN October 19, 2023 FROM: KEVIN MIZUNO, FINANCE MANAGER REVIEWED BY: PHILIP LEIBER, DEPUTYGENERAL MANAGER -ADMINISTRATION ROGER S. BAILEY, GENERAL MANAGER SUBJECT: RECEIVE THE GOVERNMENT FINANCE OFFICERS ASSOCIATION (GFOA) CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING FOR FISCAL YEAR 2021-22 Each year, upon the completion of the audit of the financial statements and preparation of the Annual Comprehensive Financial Report (ACFR), Central San's Finance Division submits the report to the Government Finance Officers Association (GFOA) in an effort to earn the Certificate of Achievement for Excellence in Financial Reporting. Management's goal each year is that the submitted ACFR meets the high standards of the GFOA's prestigious award program. Staff submitted Central San's Annual Comprehensive Financial Report (ACFR) for the fiscal year (FY) ended J une 30, 2022, (FY 2021-22) for review and has been awarded the Certificate ofAchievement for Excellence in Financial Reporting for the 23rd consecutive year. The award is the highest form of recognition in the area of governmental accounting and financial reporting. Staff is pleased to announce that the FY 2021-22 ACFR has been judged to meet the criteria and high standards of the GFOA's award program. The Annual Report demonstrates the "spirit of full disclosure," clearly communicating its financial story and enabling stakeholders to become more informed about the overall financial health of Central San. Strategic Plan re -In GOAL FOUR: Governance and Fiscal Responsibility Strategy 1 - Promote and uphold ethical behavior, openness, and accessibility, Strategy 3 - Maintain financial stability and sustainability ATTACHMENTS: 1. GFOA Press Release 2. GFOA Certificate of Achievement 3. Presentation October 19, 2023 Regular Board Meeting Agenda Packet - Page 18 of 127 GOVERNMENT FINANCE OFFICERS ASSOCIATION NEWS RELEASE FOR IMMEDIATE RELEASE 8/2/2023 For more information contact: Michele Mark Levine, Director/TSC Phone: (312) 977-9700 Fax: (312) 977-4806 Email: mlevine@gfoa.org Page 2 of 7 Attachment 1 (Chicago, Illinois)—Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to Central Contra Costa Sanitary District for its annual comprehensive financial report for the fiscal year ended June 30, 2022. The report has been judged by an impartial panel 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 report. The Certificate of Achievement is'the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. Government Finance Officers Association (GFOA) advances excellence in governmentfinance byproviding best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve. 203 NORTH LASALLE STREET, SUITE 2700, CHICAGO, ILLINOIS 60601-1210 October 19, 2023 Regular Board Meeting Agenda Packet - Page 19 of 127 Page 3 of 7 Attachment 2 Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to Central Contra Costa Sanitary District California For its Annual Comprehensive Financial Report For the Fiscal Year Ended June 30, 2022 Executive Director/CEO October 19, 2023 Regular Board Meeting Agenda Packet - Page 20 of 127 Page 4 of 7 Attachment 3 October 19, 2023 Regular Board Meeting Agenda Packet - Page 21 of 127 Government Finance Officers Association (GFOA) Founded in 1906 representing public finance officials throughout the United States and Canada More than 20,000 members are federal, state/provincial, and local finance officials deeply involved in planning financing & implementing thousands oYgovernmental operations in each of their jurisdictions GFOA's mission is to advance excellence in public finance and is the known leader in the field Provides best practice guidance, consulting, networking opportunities, publications, training and award programs 3 The Award Established in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of GAAP Annual Comprehensive Financial Reports (ACFRs) are above and beyond GAAP to evidence the spirit of transparency and full disclosure GFOA's Certificate of Achievement for Excellence in Financial Reporting recognizes organizations that have achieved this goal Goal is not to assess financial health of participating governments, but to ensure financial statement users have the information needed to do so themselves 4 Page 5 of 7 Attachment 3 October 19, 2023 Regular Board Meeting Agenda Packet - Page 22 of 127 2 Page 6 of 7 Attachment 3 5 t Eligibility and Review s 1• Process i_ GFOA issued press release August 2, 2023, Achievement Reports submitted are reviewed by selected for Excellence members of the GFOA professional staff and in Financial the GFOA Special Review Committee (SRC) J y' The SRC is comprised of individuals with expertise inreporting p g -- including: financial statement preparers, Central Couh•a Costa 5auimt•y District independent auditors, academics, and other -_ finance professionals For su A-1 Cump eb—s Must be an ACFR and in almost all Financial Xqw the Fiscal Year Ended circumstances include an unmodified ("clean") independent audit opinion 1— 30.2022 Only awarded if there is a consensus among �t reviewers the ACFR substantially complies both GAAP Exeeuthx Ohe ICED with and program policy - 5 L October 19, 2023 Regular Board Meeting Agenda Packet - Page 23 of 127 3 0 This Year's Results Government Finance Offices A—iatim Certificate of GFOA issued press release August 2, 2023, Achievement announcing award for FY 2021-22 ACFR for Excellence in Financial 23rd consecutive year receiving award Reporting Intend to apply for award for FY 2022-23 ACFR Presented to Central Couh•a Costa 5auimt•y District Continued staff training on best practices Cauforllia and new pronouncements issued by the For su A-1 Cump eb—s GASBFor Financial Xqw the Fiscal Year Ended District -wide collaborative effort 1— 30.2022 l'_A._&, .._ P W., Za Exeeuthx Ohe ICED L October 19, 2023 Regular Board Meeting Agenda Packet - Page 23 of 127 3 Acknowledgements Thank you to all of Central San's Finance Division staff most intimately involved in the ACFR development efforts leading to the award. Special thanks from the Finance Manager to Christopher Thomas, Accounting Supervisor, who spearheads this annual project.