City of Culver City Wins 3 Awards in Financial Excellence

The City of Culver City has announced it has won three awards for excellence by the Government Finance Officers Association (GFOA) for the Fiscal Year ending June 30, 2022.

Among the awards, the City earned the award for Outstanding Achievement in Popular Annual Financial Reporting. For Fiscal Year 2021-22, the new Popular Annual Financial Report was added to make the City's financial statements more accessible to the public.

"The dedicated staff of our City's Finance Department's work every day to ensure that we are not only compliant, but maintain fiscal responsibility and we are proud of their achievement and recognition," said Mayor Yasmine-Imani McMorrin. "I look forward to continue working with them to ensure that we remain a city that is transparent with taxpayer money and how we use it across Culver City."

The City also received its 38th consecutive annual Certificate of Achievement for Excellence in Financial Reporting for the Annual Comprehensive Financial Report (ACFR) for Fiscal Year 2021-22 from GFOA. The report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the report. 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.

"We pride ourselves on being fiscally responsible and transparent with taxpayer dollars," said Lisa Soghor, Culver City's Chief Financial Officer. "Not only is the City maintaining the highest level of financial reporting as it has done for over 30 years. This new report will serve as a point of entry for people not accustomed to reading dense financial documents. The City is thrilled that this first ever effort received an award from GFOA."

The City also earned the Distinguished Budget Presentation Award for the Fiscal Year 2021-2022 Budget making the City a GFOA Triple Crown Award Winner.