This is the fifth consecutive year that Lake Country has received this award
Lake Country’s annual financial report for the year ended December 31, 2018 was awarded the Canadian Award for Financial Reporting by Government Finance Officers Association of the United States and Canada (GFOA).
"This is the fifth consecutive year that Lake Country has received this award from a professional organization that serves over 19,000 government finance professionals in the US and Canada," said Mayor Baker. "Lake Country is committed to strong financial management. Tanya and the Finance department team do an excellent job communicating the municipality’s financial story in the spirit of full disclosure."
In order to be awarded a Canadian Award for Financial Reporting, a government unit must publish an easily readable and efficiently organized annual financial report, whose contents conform to program standards. Such reports should go beyond the minimum requirements of generally accepted accounting principles and demonstrate an effort to clearly communicate the municipal government’s financial picture, enhance an understanding of financial reporting by municipal governments, and address user needs.
A Canadian Award for Financial Reporting is valid for a period of one year only. "We believe our current report continues to conform to the Canadian Award for Financial Reporting program requirements, and we will be submitting it to GFOA to determine its eligibility for another award," said Tanya Garost, Chief Financial Officer.
"The Canadian Award for Financial Reporting Program provides peer recognition and technical guidance for officials preparing these reports. Receiving this award for five consecutive years is a significant achievement," said Garost. "It really speaks to the diligent, collective efforts of a well-qualified Finance team that works hard to achieve the highest industry reporting standards."
Read the 2018 Annual Report online.
