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For the 28th consecutive year, WeHo praised for its financial reports

 


The City of West Hollywood has been awarded a Certificate of Excellence in Financial Reporting and an Excellence in Financial Reporting Award by the Association of Government Financial Officers of the United States and Canada (GFOA) for its annual financial report for the year ended June 30, 2021. This is the 28th consecutive year that the City has been rewarded with this achievement.

Once again, the City of West Hollywood received high marks for its financial reporting, as we have consistently done for nearly three decades, said City of West Hollywood Mayor Lauren Meister. None of our innovative policies and programs can move forward without the strong foundations of city financial management, which include a focus on fiscal responsibility, sound policies and excellent reporting.

The city’s annual financial report is a set of detailed financial statements, along with a detailed presentation of the city’s financial situation. The government should publish an easily readable and efficiently organized annual financial report, which should meet both generally accepted accounting principles and applicable legal requirements.

The report was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive spirit of full disclosure to clearly communicate its financial history and motivate potential users and user groups to read the report . The Certificate of Achievement is the highest form of recognition in government accounting and financial reporting, and earning it represents a significant achievement by a government and its management.

City of West Hollywood budgets, updates, and other financial reports are available on the city’s website by visiting www.weho.org/budget and clicking on the Financial reports and budgets tab in the left sidebar. The City of West Hollywood Open Data Portal includes a dedicated City Budget page at http://budget.weho.org. The portal provides easily accessible information on the City’s budgeted revenues and expenses in a user-friendly format.

For more information on the Government Finance Officers Association and its Certificate of Excellence in Financial Reporting (COA) program, please visit www.gfoa.org/coa-award.

For more information on the City of West Hollywood’s annual financial report, please contact Lorena Quijano, Director of Financial and Technology Services for the City of West Hollywood, at (323) 848-6513 or [email protected] For those who are deaf or hard of hearing, please call TTY (323) 848-6496.

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