Sidney, B.C.; The Town of Sidney received notice earlier this week, that they have joined the ranks of approximately 50 other Canadian municipalities nationwide, as a winner of the prestigious Canadian Award for Financial Reporting for the Town of Sidney 2013 Annual Report.
Mayor Steve Price states; “I am very proud that the Town is a recipient of the GFOA Canadian Award for Financial Reporting. It was definitely a team effort and I congratulate all of the staff that worked on producing the 2013 Annual Report.”
The Town’s Annual report is an overview of what was accomplished during the previous year and what is planned for the upcoming year. It comprises reports from each department including a comprehensive financial report. The Annual Report is available to residents on the Town’s website.
The award program was developed in 1986 by the Government Finance Officers Association (GFOA) to encourage and assist Canadian local governments to go beyond the minimum requirements of generally accepted accounting principles, as set by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants. The award recognizes comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and represents a significant accomplishment by a government and its management as the program eligibility requirements are extremely extensive.
The GFOA is a non-profit association, founded in 1906. It represents public finance officials throughout the United States and Canada. The association’s nearly 18,000 members are federal, state/provincial, and local finance officials deeply involved in planning, financing, and implementing of thousands of governmental operations in each of their jurisdictions.