Laserfiche WebLink
~~ • • <br />MEMORANDUM <br />• CITY OF LA PORTE <br />T0: Mayor Cline and Councilpersons <br />FROM: Jack Owen <br />SUBJECT: Certificate of Conformance in Financial Reporting <br />DATE: November 7, 1984 <br />The City of La Porte is one of 43 Texas cities that has been <br />awarded a Certificate of Conformance in Financial Reporting by the <br />Government Finance Officers Association of the United States and <br />Canada for its comprehensive annual financial report for the fiscal <br />year ended September 30, 1983. This is the third consecutive year <br />that the City of La Porte has received .such a Certificate. <br />"City of La Porte, Texas has been awarded a <br />Certificate of Conformance in Financial Reporting <br />by the Government Finance Officers Association of <br />the United States and Canada for its comprehensive <br />• annual financial report for the fiscal year ended <br />September 30, 1983. The Certificate of Conformance <br />is the highest form of recognition in the area of <br />governmental accounting and financial reporting, and <br />its attainment represents a significant accomplishment <br />by a government or public employee retirement system <br />and its management. <br />By being awarded a Certificate of Conformance, <br />the comprehensive annual financial report of a <br />government agency has been judged to substantially <br />conform to the programs high standards of excellence. <br />Such standards encompass both generally accepted <br />accounting principles and applicable legal requirements. <br />To earn a Certificate of Conformance a government <br />agency must demonstrate a constructive "spirit of full <br />disclosure" effort to clearly communicate its financial <br />story, enhance understanding of the logic underlying <br />the traditional governmental financial reporting model <br />and motivate persons and groups in society to read and <br />use the comprehensive annual financial report. <br /> <br />