MALIBU—On Friday, October 30, the City of Malibu announced they have been awarded a certificate for Transparency and Excellence in Financial Reporting for the 19th time from the Government Finance Officers Association of the United States and Canada (GFOA). The award is for the 2018-2019 Fiscal Years Comprehensive Annual Financial Report (CAFR). The GFOA considers this award the highest form of recognition for government financial reporting.
The GFOA serves about 17,500 government finance professionals. The CAFR Program was established in 1945 to help local governments go beyond accepted accounting principles and prepare comprehensive annual financial reports and recognize those that show full disclosure and evidence transparency. The goal of the CAFR Program is to assure users that the participating government’s financial statements have the information needed to assess the financial health of the governments.
Mayor Mikke Pierson has said in a statement, “Transparency and accountability to the community, and responsible management of the taxpayers’ dollars are among the most important guiding principles that a government can strive for, and the City of Malibu has shown again and again through the years that it delivers on that promise.”
Visit http://malibucity.org/financialreports to see the CAFR for the 2018-2019 fiscal year.