The Government Finance Officers Association of the United States awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Vista for its fiscal year 2017/18 Comprehensive Annual Financial Report. This is the highest form of recognition in the area of governmental accounting and financial reporting.
“It is an honor to be recognized by the GFOA with this prestigious award for our financial reporting,” said Mike Sylvia, the Director of Finance and City Treasurer, who is responsible for compiling the report.
“We appreciate the acknowledgement of our city’s efforts to present our financial information in a way that is transparent, professional and understandable to the public.”
The city’s annual financial report includes the basic financial statements of the city. The report also includes management’s discussion and analysis, which provides a narrative overview and analysis of the financial activities of the city for the fiscal year, and statistical information that provides trend analysis on key financial and non-financial data of the city.
The City annually prepares the report, which is certified by an independent certified public accounting firm. The Finance Department prepares the report with staff contributions from other departments. The document is used to assist the public in understanding the financial condition of the city, while satisfying both Generally Accepted Accounting Principles and applicable legal requirements.
