Denison recognized for financial reporting


It is for the city’s financial transparency, Denison Mayor Jared Johnson said, that the city’s finance department was awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada.

Bob Scott, a volunteer with the GFOA, presented the award to Finance Director Renee Waggoner and Assistant Finance Director Laurie Alsabbagh at the beginning of the Denison City Council meeting Monday evening.

The award is for the the city’s 2010-2011 comprehensive annual financial report. “The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and it’s attainment represents a significant accomplishment by a government and its management,” says a GFOA statement.

Scott said the certificate is awarded based upon an 81-page questionnaire review by a three-member team. “It’s designed to be a very independent process,” he said.

Only 4 percent of governments hold the certificate of achievement, Scott added.

“It’s significant at a time when a lot of governments are under criticism for their financial management, … and also at a time when a lot of governments have cut back on financial staff,” he said before presenting the award.

Johnson praised the city staff for their work and said for residents, the certificate is “proof that we’re open, that the financial practices the city uses is published, it’s out there … for the community to see.”

The 2010-2011 comprehensive annual financial report is available on the city of Denison’s website, and there is a link to the report on this article at http://www.heralddemocrat.com.