Saanich Receives Canadian Award for Financial Reporting

For the 9th consecutive year, Saanich’s Finance Department has been awarded the Canadian Award for Financial Reporting from the Government Finance Officers Association (GFOA) for its 2014 financial statements.

saanich
Saanich Town Hall

To achieve this award, the annual financial report must meet the high standards set for:

  • Conformance with generally accepted accounting principles and provincial requirements 
  • Demonstration of compliance with finance-related legal and contractual provisions 
  • Completeness 
  • Clarity 
  • Use of standardized terminology and formatting conventions
  • Disclosure thoroughness and detail sufficiency 
  • Minimization of ambiguities and potentially misleading inferences 
  • Cohesiveness and internal consistency 
  • Responsiveness to prior year comments and suggestions for improvement 
  • Reader appeal

The GFOA is a major professional association, servicing the needs of more than 18,000 appointed and elected local, state and provincial level government officials and other finance practitioners. The GFOA’s Financial Reporting Award Program recognizes excellence in governmental accounting and financial reporting. The program represents a significant accomplishment by a municipal government and its management.