In 2019 the City of DeSoto received two high profile financial recognitions from one of the most respected government finance organizations in the nation. And it wasn’t the first time that this has happened.
The Government Finance Officers Association (GFOA) recently announced that DeSoto has received their Certificate of Achievement for Excellence in Financial Reporting for the City’s comprehensive annual financial report (CAFR) issued for the fiscal year ended 2018. Earlier this summer the GFOA selected the City of DeSoto to receive their Distinguished Budget Presentation Award. This marks the 27th straight year that DeSoto has won GFOA’s Distinguished Budget Presentation Award and the 33rd straight year that they’ve won the GFOA’s Certificate of Achievement for Excellence in Financial Reporting.
“We take our financial stewardship of taxpayer dollars very seriously, and want our residents to know that these two awards from the Government Finance Officers Association (GFOA) confirm that DeSoto’s accounting practices are extremely accurate, transparent, and among the best of any government bodies in the nation!“ stated DeSoto Mayor Curtistene McCowan.
The GFOA’s Certificate of Achievement for Excellence in Financial Reporting was established in 1945 to encourage state and local governments to exceed traditional budget reporting standards and to produce comprehensive annual financial reports that embrace both transparency and full financial disclosure. The GFOA’s Distinguished Budget Presentation Award was created in 1984 as a way to inspire governments to produce top quality budget documents that meet the strict guidelines established by the National Advisory Council on State and Local Budgeting and the GFOA's best practices on budgeting.
“DeSoto has maintained a constant conservative philosophy when it comes to managing finances and government operations, and this recognition is reflective of that long-standing philosophy!” Noted Interim DeSoto City Manager M. Renee Johnson. “The DeSoto City Council has been able to lower the residential and business tax rate for the past five years.”
Founded in 1906, the Government Finance Officers Association (GFOA), represents more than 20,000 public finance officials throughout the United States and Canada. Their members include federal, state, local, and provincial finance officials who are the most intimately involved in the budget process for their respective government bodies. To learn more visit https://www.gfoa.org.