SamCERA Awarded for Excellence in Financial Reporting
For the thirteenth consecutive year, the Government Finance Officers Association (GFOA) has presented SamCERA with an award for Outstanding Achievement in Popular Annual Financial Reporting.
The award recognizes SamCERA’s 2015 Popular Annual Financial Report (PAFR), which is a brief overview of SamCERA’s finances and investments. It’s the “Reader’s Digest” version of the Comprehensive Annual Financial Report (CAFR).
SamCERA’s 2015 CAFR was also honored by the GFOA. The CAFR contains detailed information about SamCERA’s finances and investments, including SamCERA’s assets, liabilities, funding sources, and funded status. This was the nineteenth year in a row the CAFR received the GFOA’s Certificate of Achievement for Excellence in Financial Reporting.
The GFOA established the CAFR certificate program in 1945 to encourage state and local governments to go beyond the minimum requirements of generally accepted accounting principles. In doing so, the GFOA has established a high standard for financial reporting where government agencies must open their books in the spirit of transparency and full disclosure.
The GFOA established the PAFR awards program in 1991 to encourage state and local governments to produce popular annual financial reports designed to be readily accessible and easily understandable to a broad audience.
SamCERA takes these duties seriously, and we are committed to meeting the standards set by the GFOA. As a result, we’re confident that we’re providing our members, the public, and other stakeholders with a clear picture of our finances.