Fort Smith Finance Department recognized for 'excellence in financial reporting' - News - Times Record

The Castle Smith Finance Division was once not too long ago known for its “excellence in monetary reporting,” incomes the honor for the 33rd consecutive yr.

Each and every yr, the dept, along with an impartial auditor, places in combination a complete annual monetary document for the town. For the ultimate 3 a long time, Castle Smith’s Finance Division won the Govt Finance Officials Affiliation “Certificates of Success in Monetary Reporting.”

“The Certificates of Success is the best type of reputation within the house of governmental accounting and fiscal reporting, and its attainment represents a vital accomplishment through a central authority and its control,” the affiliation wrote in a press unencumber.

Consistent with the discharge, the town’s annual document was once judged through “an independent panel” to judge whether or not it met this system’s requirements, which contains the “spirit of complete disclosure” during which the town’s monetary scenario is satisfactorily defined for all readers of the file to obviously perceive.

The award was once given according to the 2017 document, which is essentially the most not too long ago finished. Fiscal 12 months 2018 has now not been finished and all finish of yr numbers will most probably now not be whole till the second one quarter, Finance Director Jennifer Walker instructed the town Board of Administrators on the 2019 price range listening to ultimate November, and a complete 2018 audit will have to be completed in June.

The document comprises, however isn’t restricted to, data at the town’s monetary standing associated with governmental finances, capital property, account statuses, projections for the approaching yr and steadiness sheets.

“The award program supplies a rigorous exam of our monetary statements, making sure a clear presentation of the town’s monetary standing that moves a steadiness between comprehensiveness and clarity,” Walker mentioned in a press unencumber. “Our town’s Finance Division strives to give comprehensible monetary statements that can be utilized through our neighborhood to judge the monetary well being of the town.

Walker mentioned the dept is “commemorated” to proceed participation in this system and additional refining its reporting processes.

Town Administrator Carl Geffken congratulated the dept for incomes the award as soon as once more.

“This award illustrates that we as a town — our body of workers, mayor and board — are dedicated to complete disclosure, transparency and duty as we try on a daily basis to be excellent stewards of Castle Smith’s public finances,” Geffken mentioned within the unencumber.

Walker and the remainder of the dept body of workers carried out a brand new price range and accounting device ultimate yr, which she in the past mentioned would additional build up duty and transparency.

The Board of Administrators applauded Walker and her body of workers for its paintings at the 2019 price range in December.

Ward three Director Mike Lorenz mentioned the FY2019 working price range was once essentially the most detailed he has observed in his time in town management. Walker agreed, pronouncing it was once “through a ways” essentially the most clear one her division offered.

“(That) ended in numerous scrutiny, numerous questions, numerous studying and duty,” Walker mentioned. “You in point of fact can’t ask for a lot more than that.”

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