Finance Department is Recognized for Excellence in Financial Reporting

Finance Department is Recognized for Excellence in Financial Reporting

December 21, 2023

Miami Lakes, FL – Miami Lakes has been awarded the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting, the highest form of recognition for excellence in state and local government financial reporting, for its FY2022 Annual Comprehensive Financial Report (ACFR) as prepared by our Finance Department. Miami Lakes has received this prestigious award eleven years consecutively since its participation in the GFOA certificate program.

To achieve the recognition of excellence, applicants must demonstrate competence in reporting in conformance with generally accepted accounting principles, compliance with finance-related legal and contractual provisions, and thoroughness in disclosure and detail sufficiency. Criteria examined when considering an application for the award include: local significance and value, technical significance, transferability, documentation, the cost/benefit analysis, efficiency, originality and durability.

The report was 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.