The award from the Government Finance Officers Association is the highest award for government accounting and financing reporting.
For the fifth time in five years, the City of Coachella has received a Certificate of Achievement for Excellence in Finance Reporting from the Government Finance Officers Association.
The award was presented to Coachella Finance Director and City Manager William B. Pattison, Jr. during tonight’s City Council meeting.
The Certificate of Achievement is the highest form of recognition in government accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management, according to a letter notifying the city of the award.
Pattison became Coachella’s finance director in 2010 before taking on the additional duties of city manager in December. He said the Government Finance Officers Association recognition is important because it enables Coachella to qualify for lower interest rates that save local taxpayers money when the city applies for or refinances its loans and bond obligations.
Local taxpayers also benefit from the scrutiny that the city’s finances receive by the Government Finance Officers Association, which complements the reviews conducted by the city’s outside auditors. The association also routinely makes recommendations for further improvements in financial reporting, which helps makes city finances even more transparent.
“Everyone benefits from having another set of eyes reviewing our finances and making recommendations,” Pattison said.
The Government Finance Officers Association is based in Chicago. Its website is www.gfoa.org.