The City of Nanaimo has been awarded for a financial report it published last year.
According to a press release, the Government Finance Officers Association has recognized the city with the Canadian Award for Financial Reporting for its report ending Dec. 31, 2020.
“In order to [receive the award], a government unit must publish an easily readable and efficiently organized annual financial report, whose contents conform to program standards,” said the press release. “Such reports should go beyond the minimum requirements of generally accepted accounting principles and demonstrate an effort to clearly communicate the municipal government’s financial picture, enhance an understanding of financial reporting by municipal governments, and address user needs.”
Mayor Leonard Krog said in the release that he and the rest of council applaud the city’s finance and communications departments for the award.
“Our city is very fortunate to have such dedicated and talented [people] who do an excellent job preparing complex financial reports in a way that can be clearly understood,” Krog said in the press release.
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