City of Newberry earns Certificate of Achievement for Excellence in Financial Reporting

The City of Newberry Finance & Administration Department was 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 (CAFR) for the fiscal year ending September 30, 2018. The Certificate is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by the City. This is the City’s first time receiving this prestigious award, which less than 5% of governments earn.

“Preparation of the CAFR requires a high level of collaboration among all of our staff and the dedication to stay current with continuously changing financial reporting requirements,” said Dallas Lee, Director of Finance & Administration. “We could not have won this award without the assistance of our other departments in ensuring that we all hold ourselves to the highest levels of accountability and transparency. This was our first year producing the CAFR, which incorporated multiple changes throughout the complex report, and to be recognized in our first year is no small accomplishment. I commend and congratulate our staff on their research, planning, and commitment to produce a timely and quality report.”

The city’s comprehensive annual financial report was judged by an impartial panel to meet the high standards of the program, including demonstrating a constructive “spirit of disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.

“It is a tremendous honor for the City of Newberry to receive this prestigious award. Our City’s fiscal accountability, transparency, and stability are always a top priority and this award demonstrates that we are operating both efficiently and with integrity," said City Manager Mike New. "This accomplishment shows the hard work of the finance team to continually provide transparency and best practices. This would not be possible without a lot of hard work. My thanks and congratulations to the team for this effort.”

The Government Finance Officers Association established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945. It encourages and assists state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then recognizes individual governments that achieve that goal.

To read the City's CAFR, please click here.