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Photo courtesy of City of Lenoir

Lenoir Wins Financial Reporting Award

The City of Lenoir Finance Department again received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA).

The award was for the City’s most recent comprehensive annual financial report for the Fiscal Year that ended June 30, 2022. This is the 32nd consecutive award the department has received from GFOA.

A comprehensive annual financial report provides financial details for the City of Lenoir government for a fiscal year. The details include balance sheets, assets, debts, investment funds, tax revenues, expenditures, an audit report, and more.

An impartial panel judged the report to meet the high standards of the GFOA 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 report.

Finance staff manages the City’s financial accounts; accounts payable, payroll, billing, and collections; collects utility bills and tax bills for 10,000 customers; handles payroll, billing, and collection functions; processes employment applications and maintains personnel records and benefits plans all staff; provides IT services for the City; and manages city insurance policies, safety programs, procurement, and purchasing.

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and represents a significant accomplishment by a government and its management.

The Government Finance Officers Association is a major professional association servicing the needs of nearly 19,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services, and products designed to enhance the skills and performance of those responsible for government finance policy and management.