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Lynnwood Receives Excellence in Financial Reporting Award for 2016 Comprehensive Annual Financial Report

 

FOR IMMEDIATE RELEASE
Lynnwood Receives Excellence in Financial Reporting Award for 2016 Comprehensive Annual Financial Report

LYNNWOOD, WA (February 13, 2018) - The City of Lynnwood has been awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for our 2016 Comprehensive Annual Financial Report (CAFR). 

Per the GFOA, this national certificate of achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. Only 36 other cities in Washington State have received this award. 

"This national recognition reflects a strong commitment from the City Council, Mayor Smith and our City Staff to provide transparent and accurate financial accounting," stated Finance Director Sonja Springer. "We've accomplished a trifecta - receiving a clean audit and the Distinguished Budget Presentation Award last September, and now this Certificate of Achievement. There are only 20 cities in Washington that have received both awards from GFOA."

"Finance Director Springer and her team have brought greater accuracy, transparency, strategy, and accountability to our City's finances," stated Mayor Nicola Smith. "The CAFR, Budget Book and updated financial policies align with industry best practices and provide our community with clear and easy to understand budget documents."

This is the first time since 2009 that the City of Lynnwood has received the GFOA Certificate of Achievement. In addition to the two GFOA awards, our 2017 Financial Policy document was recognized by the Municipal Research and Services Center (MRSC) as an example of best Financial Management Policies.

The award winning Comprehensive Annual Financial Report and Budget Book can be viewed on our Budget and Finance webpages. The Community Budget Transparency tool, often referred to as the 'Open Checkbook', is another tool that community members can use to interact and explore details of the adopted budget. The Community Budget Transparency tool can be accessed by visiting www.LynnwoodWA.gov/CBT.

GFOA

Finance Director Sonja Springer presented the GFOA Certificate of Achievement for Excellence in Financial Reporting award during the February 12, 2018 City Council Meeting. She was joined by the City's Finance team who played a key role in achieving the award. Pictures left to right: Deputy City Clerk Debbie Karber, Treasury Supervisor Kim Koronko, Mayor Nicola Smith, Finance Director Sonja Springer, Accounting Manager John White, Budget Coordinator Marilou Moore, Payroll Supervisor Sherri Gordon, and Capital Assets & Grants Accountant Janella Lewis.

About the GFOA

Government Finance Officers Association is a major professional association servicing the needs of more than 19,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services, and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, Illinois, with offices in Washington D.C.

About City of Lynnwood

Incorporated in 1959, Lynnwood is the economic hub of South Snohomish County. Situated at the convergence of interstates I- 5 and I-405, Lynnwood’s accessibility, variety of housing and employment options, colleges and outstanding park system attract a wide variety of businesses and residents. For its diverse population of more than 36,000, Lynnwood is a great place to live, work and play. Lynnwood Moving Forward: Our Community Vision – the City will be a regional model for a sustainable, vibrant community with engaged citizens and accountable government. Lynnwood is…a great deal more!

Contact:

Julie Moore, Public Affairs Officer
jmoore@LynnwoodWA.gov
425-670-5023

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