The Antelope Valley Times

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Palmdale awarded for ‘Excellence in Financial Reporting’ by GFOA

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PALMDALE – The City of Palmdale’s Finance Department has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for the fiscal year ending June 30, 2016.

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
The CAFR has been judged by an impartial panel to meet the high standards of the program, which include demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.

“It’s quite an honor not only to be recognized by the GFOA, but also to be recognized 27 years in a row,” stated Palmdale’s City Manager Jim Purtee. “It speaks volumes of the importance we place on our fiscal matters, the direction we have received from our Mayor and Council, and the outstanding work of our Finance team.”

Palmdale’s Finance Department is responsible for overall financial planning for the city, revenue administration, and budget control. The department also provides payroll services, purchasing, administration of the city’s outstanding debt obligations, and acts in a fiduciary capacity for the Successor Agency to the Former Community Redevelopment Agency of the city of Palmdale, four assessment districts and three community facilities districts.

The department also assists the city manager in the preparation of the annual budget, invests city funds for both short and long-term purposes, and provides cash management for the city.

[Information via news release from the city of Palmdale.]

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Filed Under: Business, Palmdale

6 comments for "Palmdale awarded for ‘Excellence in Financial Reporting’ by GFOA"

      • Sorry, not buyin’ that. The blatant cronyism, use of code enforcement and law enforcement for settling personal grudges, and abject failure to really provide even a minimum of successful public planning can’t honestly be compared to Palmdale. In many ways Lancaster even exceeds the Bell standards, though direct handouts to city officials seem to be avoided in favor of less direct methods.

        • If the books were ever opened in Lancaster, it would be ugly.

          Until then, bask in the glory of junk bonds and bloated debt. A downtown overrun by panhandlers and homeless. Millions of dollars wasted on pipe dreams like LEAPS, Ecolution, and Traction Seal. Million of dollars paid out in lawsuits. Businesses sued out of town. Destruction of the west side with miles of solar panels. Increase in Valley Fever. Chinese birth tourism. High crime. Run down and ignored East Lancaster.

          What a city. What a city council.

      • Shirley, you jest.

        Did Palmdale-adjacent win such an award? How ’bout comparing credit ratings?

        Or, which mayor keeps on stepping on his own d***?

      • Lancaster is beating Palmdale in crime and panhandling………………………………………….