For the fifth year in a row, the City of Sherwood has been awarded the 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) for FY2016. This certificate 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.
Sherwood's CAFR has been judged by an impartial panel to meet the high standard of the program including a constructive "spirit of disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR. "It is rewarding to gain this recognition once again," stated Joseph Gall, City Manager. "Achieving this high level of recognition in financial reporting is a result of our ongoing commitment of fiscal transparency and solid financial management."
The City of Sherwood has also received similar recognition for its budget from the GFOA for many years. The GFOA is a nonprofit professional association serving approximately 19,000 government finance professionals with offices in Chicago, IL, and Washington, D.C.