Crystal Lake recently received a GFOA award for its high-quality management and demonstrated financial stability.
Crystal Lake recently received a GFOA award for its high-quality management and demonstrated financial stability.
The City of Crystal Lake was awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the U.S. and Canada (GFOA) this week.
This recognition indicates the high-quality management practices and financial stability of Crystal Lake. The award was granted after the comprehensive annual financial report (CAFR) was reviewed by a panel representing the organization. According to an announcement from GFOA, the award was presented to Crystal Lake Director of Finance George Koczwara.
According to the city’s announcement, this is the 26th consecutive year that the certificate has been awarded to Crystal Lake. The panel of judges evaluate financial reports from multiple municipal units; units that communicate data effectively and promote open disclosure and transparency are recognized with the award. The organization stated that this award is the highest it is able to give for governmental accounting and finance.
The GFOA serves approximately 18,000 government officials and financial partners at the city, local, state and provincial levels. The association develops training programs, publications and instructional materials to help partners in the field improve their skill sets, in addition to matters associated with financial policy.
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