Awards for Excellence
The Citys finances are very well managed.
We have a balanced budget and a strong fiscal condition by state and federal standards.
The strength of our local economy, our fiscal health, our history of fully meeting our
financial obligations, and our commitment to conservative Budget
and Fiscal Policies and sound financial management practices is reflected in our AA
credit rating by Filch Ratings, a leading credit rating company.
Recognition for Our Financial Management Practices
Our financial management practices have
received national recognition as a model for other cities and local agencies to follow.
Our two-year Financial
Plan & Budget, and its approach to Multi-Year Budgeting
and Integrating Goal-Setting into the Budget Process, has
received the Distinguished Budget Presentation Award from the Government Finance Officers
Association of the United States and Canada (GFOA), with special recognition as a
policy, financial plan and public communications document. We are one of very few cities
in the nation to have received special recognition in these categories.
Our Financial Plan & Budget has
also received awards for excellence from the California Society of Municipal Finance
Officers (CSMFO) for an operating budget, a capital improvement plan, innovation and
public communications. We are one of only a hand-full of cities statewide to have received
awards in all four of these categories.
The National Advisory Council on State
and Local Budgeting has also recognized the Citys financial planning and budgeting
practices by including a number of illustrations from our Financial Plan in their
Recommended Budget Practices.
Since 1986, each of the
Citys Comprehensive Annual Financial Reports (CAFR) has
received the GFOAs coveted Award for Excellence in Financial Reporting.
Additionally, this report has also received the CSMFOs Award for Excellence in
The Citys commitment to full
disclosure of its financial operations has also been recognized by the National Federation
of Municipal Analysts.