From Staff Reports

The city of Wylie has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada for its Comprehensive Annual Financial Report for the Fiscal Year 2007-’08.

The award marks the 19th year in a row that Wylie has been honored with the highest form of recognition in the area of governmental accounting and financial reporting.

“This significant accomplishment represents our commitment to fiscal responsibility, accurate financial reporting and transparency,” said Mayor Eric Hogue.  “I am extremely proud of the Finance Department for their hard work in preparing this award-winning CAFR.”

Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee.  The SRC is comprised of public-sector financial statement preparers, independent auditors, academia and other finance professionals.  The CAFRs are judged on a set of standards including their ability to demonstrate a constructive “spirit of full disclosure”; effectiveness in communicating the entity’s financial story; and ability to motivate potential users to read the CAFR. 

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945.  The goal is to encourage and assist governments to go beyond the minimum accepted accounting principles and prepare CAFRs of the highest quality according to a stringent set of guidelines, as well as to recognize individual governments that succeed in achieving that goal. 

The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals.  The city of Wylie CAFR is posted at www.WylieTexas.gov under Departments, Finance.