Menifee’s finance department recently earned an award for excellence with their financial reporting. The Government Finance Officers Association of the United States and Canada gives this award to government finance agencies that uphold the high standards of their program.
Officially, the award is called The Certificate of Achievement for Excellence in Financial Reporting. It was given to the city for its comprehensive annual financial report (CAFR) for fiscal year 2012-13.
“This award is affirmation that our city council policies are working and in line with our budget,” Mayor Scott Mann said.
The finance department has come a long way since its first few years in cityhood. In May 2010 an audit uncovered $400,000 in errors in the finance department.
“I think it is great to win this award,” said Wendy Welch, who took over as interim finance director in 2010. “It is source of pride for me and the staff.”
Welch said the staff has worked hard and they are proud to have turned things around, winning this award four times.
Mayor Mann said those who work in the finance department came up with ways to stay balanced despite the state taking away $14 million since 2011 in vehicle license fees.
Menifee was a fledging city six years ago, having just incorporated when the state took away VLF fees earmarked for city services like police.
Members of GFOA believe it is important to recognize cities who demonstrate a constructive “spirit of full disclosure” to clearly communicate the city’s financial story and to motivate audiences to use the document.
“As Mayor I am proud our city can balance the budget and I am proud of our finance department who on any given day is working on three budgets, the previous year’s budget, the current budget and future,” Mann said.
Menifee’s CAFR document provides a comprehensive presentation of the city’s financial status for the year. The document offers a citywide view of all governmental activities with focus on the financial position and operating results of the city’s major funds.
“We’re proud of our finance department because this marks the fourth GFOA Certificate of Achievement award for Menifee,” City Manager Rob Johnson said. “Menifee’s finance team maintains high quality accounting standards and produces a useful, easy to navigate comprehensive annual financial report.”