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City of Los Fresnos Receives Excellence in Financial Reporting
- Updated: January 3, 2025
By Mike Villarreal
The City of Los Fresnos has received the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for the 16th consecutive year. This remarkable achievement highlights the hard work and dedication of their Director of Finance, Pablo Garza. Los Fresnos has set a standard for transparency and excellence in financial reporting.
This program was established in 1945 to assist and encourage local and state governments to exceed the minimum requirements of accepted accounting principles when preparing annual financial reports. The aim is to promote transparency and full disclosure, as well as to recognize individual governments that successfully achieve this goal.
The objective of the program is to ensure that users of financial statements have the necessary information to assess the financial health of participating governments, rather than evaluating the governments themselves.
Only state and local governments are eligible to participate in the Certificate of Achievement (COA) program, and they must submit their published Annual Comprehensive Financial Report (ACFR). These reports are then reviewed by GFOA staff and members of the GFOA special review committee.
The reports are evaluated using a checklist designed to determine compliance with both program policy and generally accepted accounting principles, as established by the review committee, which is composed of experts from public accounting, government, and academia with specialized knowledge in government financial reporting. A certificate is awarded only when there is unanimous consensus that the financial report complies with program policy.
For the past 16 years, Pablo Garza and his staff have set the benchmark for financial reporting in Los Fresnos, and they are looking to achieve their 17th consecutive year of excellence next year.
Photo from the City of Los Fresnos Facebook Page
