BCHD Honored for Excellence in Financial Reporting
Government Finance Officers Assoc. salutes BCHD for “transparency and full disclosure” for 2019-2020 Financial Report
Government Finance Officers Association of the United States and Canada (GFOA) has presented a Certificate of Achievement for Excellence in Financial Reporting to Beach Cities Health District (BCHD) for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending June 30, 2020.
“The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, judged by an impartial panel to meet the high standards of the program,” according to Michele Mark Levine, Director, Technical Services for GFOA. “The GFOA established the Certificate of Achievement for Excellence in Financial Reporting certificate program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.”
“Monica Suua and our Finance team work diligently to properly provide this information to our community and their efforts truly represent our commitment to transparency,” said Tom Bakaly, CEO for Beach Cities Health District. “This well-deserved honor validates their dedication and many hours of work on behalf of BCHD and the residents of the Beach Cities.”
Suua was also one of three finalists in the Los Angeles Business Journal’s “CFO of the Year” awards presented Sept. 22, nominated in the Public Service category.
This is the second consecutive year GFOA awarded BCHD its Certificate of Achievement for Excellence in Financial Reporting for its comprehensive annual financial report.
Earlier this year, GFOA also awarded BCHD the Distinguished Budget Presentation Award with a Special Performance Measures Recognition. In addition, the California Society of Municipal Finance Officers (CSMFO) presented BCHD with an Excellence Award for its 2020-21 operating budget. BCHD is the only health district to meet the CSMFO standards of excellence and has received 16 CSMFO Excellence or Meritorious Awards since the 2007-2008 fiscal year.
BCHD’s budgetary practices are available to the public online and the budget is reviewed by the District’s resident advisory Finance Committee and discussed at public Board meetings. An annual report with an overview is also mailed to Beach Cities households each year.