For the second consecutive year, the City of Collinsville has been recognized by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for the fiscal year ending December 31, 2010. According to GFOA, “The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.”
To earn the Certificate of Achievement for Excellence in Financial Reporting, the City of Collinsville had to substantially conform to the program’s demanding criteria, which go well beyond the minimum requirements of Generally Accepted Accounting Principles in the United States of America. Program participants submit copies of their Comprehensive Annual Financial Report to the Certificate of Achievement program for an in-depth review and evaluation by two members selected from an impartial panel of government finance officers, independent Certified Public Accountants, educators and others with specialized expertise and experience in governmental accounting and financial reporting. Reports are also reviewed and evaluated by members of the GFOA professional staff. Only those reports that are judged by all reviewers to have substantially met the program’s criteria are awarded the Certificate of Achievement for Excellence in Financial Reporting.
The City’s CAFR was judged by an impartial panel to have satisfied the high standards of the program including demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
The City of Collinsville is one of the only few Illinois municipalities south of Springfield to receive this honor. It represents a great deal of dedication from staff and leadership from the City Council. The City of Collinsville is proud to set an example and encourage other communities to strive for the same high standards in their own financial reports.
The City’s CAFR can be accessed by clicking on the following link: http://www2.collinsvilleil.org/images/docs/financialstatements/2010STATEMENT.pdf
For more information, please visit http://www2.collinsvilleil.org.