GFOA Presents Millbrae with Financial Reporting and Transparency Award
On Monday, August 14, the City of Millbrae announced that it was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA). The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. Its attainment represents a significant accomplishment for the City of Millbrae.
“This award demonstrates the City of Millbrae’s ongoing commitment to financial transparency,” said Millbrae Mayor Reuben Holober. “This level of transparency means our residents and businesses understand where the City’s revenue comes from, where it is spent. Beyond this award, our goal is to ensure our financial reports are easily accessible and made available online, for all to see.”
The Certificate of Achievement demonstrates the City’s ongoing commitment to fiscal transparency, accountability, and leadership. The award recognizes the City’s efforts to produce an in-depth report of its finances in a manner that is understood by taxpayers. Millbrae has received this award every year for the past 23 years except FY 2015 when GFOA implemented new accounting requirements and the City was not able to complete its CAFR on time. Currently, the City is transitioning to a modern financial management system to increase administrative efficiency.