City of Columbia Receives Certificate of Achievement for Excellence in Financial Reporting

COLUMBIA, SC – The City of Columbia has received a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR).

“This is the first time that the City has been awarded the certificate since 2005,” said Jeff Palen, Chief Financial Officer. “The return of the City to receiving this award is the culmination of the work and effort of many individuals over the past five years.”

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.

“The Certificate of Achievement for Excellence in Financial Reporting is the result of a collaborative effort between city leaders, management and staff working together on a common goal of fiscal responsibility. A stable financial structure is one of the main principles of the Build Columbia management concept and it is an integral part of achieving our goals as we continue to work to effectively run, grow and transform our city. I commend our staff in the Finance Department and other supporting areas on a job well done,” said City Manager Teresa Wilson.

The CAFR has been judged by an impartial panel to meet 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 GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL and Washington, D.C.