City Lights feb. 2020r.pub

February, 2020 www.desototexas.gov

DeSoto City Lights

A Publication of the City of DeSoto Community Relations Department

In 2019 the City of DeSoto received two high profile financial recogniƟons from one of the most respected government finance organizaƟons in the naƟon. And it wasn’t the first Ɵme that this has happened. The Government Finance Officers AssociaƟon (GFOA) recently announced that DeSoto has received their CerƟficate of Achievement for Excellence in Financial ReporƟng for the City’s comprehensive annual financial report (CAFR) issued for the fiscal year ended 2018. Earlier this summer the GFOA selected the City of DeSoto to receive their DisƟnguished Budget PresentaƟon Award. This marks the 27th straight year that DeSoto has won GFOA’s DisƟnguished Budget PresentaƟon Award and the 33rd straight year that they’ve won the GFOA’s CerƟficate of Achievement for Excellence in Financial ReporƟng. “We take our financial stewardship of taxpayer dollars very seriously, and want our residents to know that these two awards from the Government Finance Officers AssociaƟon (GFOA) confirm that DeSoto’s accounƟng pracƟces are extremely accurate, transparent, and among the best of any government bodies in the naƟon!“ stated DeSoto Mayor CurƟstene McCowan. DESOTO CONTINUES TO BUILD RECOGNITION FOR TOP ACCOUNTING PRACTICES by Matt Smith, Communications Manager PresentaƟon Award was created in 1984 as a way to inspire governments to produce top quality budget documents that meet the strict guidelines established by the NaƟonal Advisory Council on State and Local BudgeƟng and the GFOA's best pracƟces on budgeƟng. “DeSoto has maintained a constant conservaƟve philosophy when it comes to managing finances and government operaƟons, and this recogniƟon is reflecƟve of that long‐standing philosophy!” noted Interim DeSoto City Manager M. Renee Johnson. “The DeSoto City Council has been able to lower the residenƟal and business tax rate for the past five years.” Founded in 1906, the Government Finance Officers AssociaƟon (GFOA), represents more than 20,000 public finance officials throughout the United States and Canada. Their members include federal, state, local, and provincial finance officials who are the most inƟmately involved in the budget process for their respecƟve government bodies. To learn more visit hƩps://www.gfoa.org.

The GFOA’s CerƟficate of Achievement for Excellence in Financial ReporƟng was established in 1945 to encourage state and local governments to exceed tradiƟonal budget reporƟng standards and to produce comprehensive annual financial reports that embrace both transparency and full financial disclosure. The GFOA’s DisƟnguished Budget

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