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Achieving the GFOA CAnFR Award

Achieving the GFOA CAnFR Award. GFOABC Municipal Accounting and Auditing Best Practices Workshop . Report Requirements. 3 Sections (plus Summary Grading) Introductory Section (2 pages on Reviewers Checklist) Cover, Title Page, Table of Contents List of Elected Officials & Department Heads

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Achieving the GFOA CAnFR Award

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  1. Achieving the GFOA CAnFR Award GFOABC Municipal Accounting and AuditingBest Practices Workshop

  2. Report Requirements 3 Sections (plus Summary Grading) • Introductory Section (2 pages on Reviewers Checklist) • Cover, Title Page, Table of Contents • List of Elected Officials & Department Heads • Organizational Chart • Transmittal Letter • Legislative Authority • Entity and Services • Significant financial policies and results • Future Outlook • Role of Auditor, Responsibility of Management • Financial Section – PSAB (11.5 pages on Reviewers Checklist – 5 pages on Notes) • Statistical Section (1 page on Reviewer’s Checklist) • Select 5 year financial statistics • Demographics • Principal Corporate Taxpayers • Miscellaneous – Format stuff (1/2 page on Reviewer’s Checklist)

  3. Achieving the GFOA CAnFR Award Bio: Carol Engelking, CA

  4. CAnFR Award City of Edmonton Experience C. Engelking

  5. Edmonton Experience • Detailed gap analysis done with 1992 Annual Report • Senior management support for changes • First GFOA application was with the 1993 Annual Report • Have successfully achieved the award for each of the years 1993 through 2002 • Application outstanding for 2003

  6. What it Means – Value Add • An external quality measure • Provides additional comfort to Audit Committee and City Council • Internal goal – an achievement to celebrate! • Additional profile to your municipality • Certificate in Annual Report to readers • More consistent framework across municipal Annual Reports

  7. Tips and Tricks • Plan extensively up front • Identify necessary resources and get them onboard • Refer to examples of municipalities who have met the standard • Stay connected within your organization – much of the information is resident in other documents or processes • Have some fun – it’s an opportunity for creativity!

  8. Achieving the GFOA CAnFR Award Bio: Nancy Gomerich, CA

  9. Pitt Meadows Experience Just Did it!!!! • Took about 1 weeks worth of time to put together (about an extra day to day and one-half each year thereafter) • Why? • Passion for making financial information understandable • Increases Accountability • Improved Public Image and confidence

  10. Pitt Meadows Experience How? • Much of the information was “borrowed” • Demographics – Statistics Canada • Info on Organization & Services – Municipal Red Book • General format Treasurer’s Report, Transmittal Letter, Statistical Section – City of Maple Ridge…minus • Or we already had: • Organizational Chart, Financial Statements (lots of 5 year stats came from these)

  11. Tips and Tricks • Build on the Charter required Annual Corporate Report • Issue: GFOA required format and focus conflicts with typical Corporate Annual Report • Need to add: Some information about organization, statistical section (demographics and statistics) • Get your Auditors involved • Go through the reviewers checklist • “Borrow” and don’t “reinvent the wheel” • Pay attention to the little things • Make sure your Financial Statements meet PSAB

  12. Other Stuff • Make sure your Financial Statements are… beautiful! Do a really good Treasurer’s Report • Present the Report to Council and the Public • Ensure the Award is presented each year at a televised Council Meeting and the current award is hung in a prominent place in City Hall!

  13. Achieving the GFOA CAnFR Award Bio: Tim Beauchamp, CA

  14. Achieving the GFOA CAnFR Award • Ensure compliance with rules • Assess overall appeal • Provide suggestions for improvement • Determine if award granted • Is this a document to use as an example? Role of the Reviewer

  15. Achieving the GFOA CAnFR Award • Financial assets/liabilities definitions • Relation to revenue/expenditures • Cash flow statement • Notes to the F/S • Linking F/S to narratives Tips & Tricks

  16. Achieving the GFOA CAnFR Award AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002 • City of Abbotsford, British Columbia • http://www.city.abbotsford.bc.ca/annual%20report/TOC.pdf • City of Coquitlam, British Columbia • http://www.coquitlam.ca/NR/rdonlyres/2C6AAE58-8140-4B40-9C75-915D1A6D4334/0/2003AnnualReport.pdf • City of Edmonton, Alberta • City of Kelowna, British Columbia • http://www.city.kelowna.bc.ca/citypage/docs/pdfs/departments/city%20managers%20office/communications%20section/2002%20annual%20financial%20report.pdf • City of Lethbridge, Alberta • http://www.lethbridge.ca/NR/rdonlyres/2F8CE969-6DE9-411E-B3AB-340EC5A532B8/983/2003AnnualReport1.pdf

  17. Achieving the GFOA CAnFR Award AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002 • City of Medicine Hat, Alberta • http://www.city.medicine-hat.ab.ca • City of Mississauga, Ontario • City of Montreal, Quebec • http://www2.ville.montreal.qc.ca/finances/rapfin/rapfina.shtm • City of Port Alberni, British Columbia • http://www.city.port-alberni.bc.ca/ • City of Regina, Saskatchewan • City of Richmond, British Columbia • http://www.city.richmond.bc.ca/admin/annual_report.htm • City of Saskatoon, Saskatchewan • http://www.city.saskatoon.sk.ca/org/finance/reports/index.asp

  18. Achieving the GFOA CAnFR Award AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002 • City of St. Albert, Alberta • http://www.city.st-albert.ab.ca/public/data/documents/ACFE.pdf • City of Surrey, British Columbia • http://www.city.surrey.bc.ca/NR/rdonlyres/epfix6te6qvjxcyqjtmcrnvddtfp4zwbvv4csx7fxfyof7ajbyclc2jq44ijafwjhza4ightvefkvzizarcedfhz5ue/2002+Financial+Statements.pdf • City of Yellowknife, Northwest Territories • http://www.city.yellowknife.nt.ca/userfiles/HTML/nts_1_186_1.html • Corporation of the City of Brampton, Ontario • http://www.city.brampton.on.ca/annual_report/report.tml?rnav=0rnav=244 • Corporation of the City of Burlington, Ontario • Corporation of the District of Maple Ridge, British Columbia • http://www.mapleridge.org/municipal/departments/finance.html

  19. Achieving the GFOA CAnFR Award AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002 • Corporation of the District of Pitt Meadows, British Columbia • http://www.pittmeadows.bc.ca/government/general/annualfinreport.html • Corporation of the Town of Markham, Ontario • http://www.markham.ca/markham/channels/finserv/overview.htm • Corporation of the Town of Oakville, Ontario • http://www.oakville.ca/TownServices/serv_8324.htm • County of Lethbridge, Alberta • Parkland County, Alberta • Regional Municipality of Peel, Ontario • http://www.region.peel.on.ca/finance/ar2003/ar2003-reports.htm • Regional Municipality of York, Ontario • http://www.region.york.on.ca/About+Us/Annual+Reports/Annual+Reports.htm

  20. Thanks for your attention!

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