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The City once again received the awards from the Government Finance Officers Association



Culver City Press Release
Culver City Seal

FOR IMMEDIATE RELEASE:
October 21, 2024

Contact:
Lisa Soghor, Chief Financial Officer lisa.soghor@culvercity.org
(310) 253-6016



*City Earns Two Awards for Financial Excellence by Government Finance Officers Association*

The City of Culver City is pleased to announce it has once again won a pair of awards for excellence by the Government Finance Officers Association (GFOA) for Fiscal Year 2022-2023. 

For the second year in a row, the City earned the award for *Outstanding Achievement in Popular Annual Financial Reporting. *The Popular Annual Financial Report (PAFR) continues to make the City’s financial statements more accessible to the public. 

The award represents a significant achievement by the City. In order to be eligible for the PAFR Award, a government must also submit its annual comprehensive financial report to GFOA’s Certificate of Achievement for Excellence in Financial Reporting Program and receive the Certificate for the current fiscal year. Each eligible report is reviewed by judges who evaluate the report based on the following categories: reader appeal, understandability, distribution methods, creativity and other elements.

"Culver City continues to make our finances transparent and accessible to all stakeholders with its Popular Annual Financial Report," said Mayor Yasmine-Imani McMorrin. "For second year, we’ve won this award that acknowledges our effort to find ways to responsibly spend taxpayer money that everyone can understand and provide opportunity for continued community participation in our budgetary process"

The GFOA also awarded the *Certificate of Achievement for Excellence in Financial Reporting* to City of Culver City for its Annual Comprehensive Financial Report (ACFR) for the Fiscal Year 2022-2023. 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.

"The Finance Department and the City work hard to ensure we are fiscally responsible with taxpayer dollars," said Lisa Soghor, Culver City's Chief Financial Officer. "For 39 consecutive years, we have been recognized for our promise to City taxpayers to be transparent in financial reporting."

Earlier this year, it was announced the City also earned awards for *Outstanding Achievement in Popular Annual Financial Reporting*, *Distinguished Budget Presentation Award, and Certificate of Achievement for Excellence in Financial Reporting* for Fiscal Year 2021-2022. You can read the Culver City's PAFR on the City's website. [ https://www.culvercity.org/files/assets/public/v/3/documents/finance/governmenttransparency/03_cafr/acfr/2023-12_culver_city_pafr_22-23_final.pdf ]

About Culver City

Culver City [ http://www.culvercity.org/ ] is a five-square-mile, urban community of 40,779 residents surrounded mostly by the City of Los Angeles but also shares a border with unincorporated areas of Los Angeles County. It is centrally located on the Westside near Santa Monica, Beverly Hills, and Los Angeles International Airport.  Culver City is particularly known for its well-run public school system, "small town" charm, growing high-tech and creative economies, and a dynamic downtown that is regionally known as a destination for restaurants, live theater, and art galleries. 

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Photo of Culver City City Hall

Photo of Culver City's City Hall



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