District of Oak Bay
News Release

FOR IMMEDIATE RELEASE
June 25, 2021

District of Oak Bay receives Canadian Award for Financial Reporting from the Government Finance Officers Association

The District of Oak Bay is pleased to share that we have received the Canadian Award for Financial Reporting from the Government Finance Officers Association (GFOA) for the District’s 2019 Annual Report.

The Canadian Award for Financial Reporting program was established to encourage municipal governments throughout Canada to publish high quality financial reports and to provide peer recognition and technical guidance for officials preparing these reports. In order to be awarded a Canadian Award for Financial Reporting, a government organization must publish an easily readable and efficiently organized annual financial report, whose contents conform to program standards.

“This award represents the District’s ongoing commitment to enhancing transparency, accessibility and quality of reporting. Council and staff continue to translate this commitment into action,” said Mayor Kevin Murdoch.

Such reports should go beyond the minimum requirements of generally accepted accounting principles and demonstrate an effort to clearly communicate the municipal government’s financial picture, enhance an understanding of financial reporting by municipal governments, and address user needs. A Canadian Award for Financial Reporting is valid for a period of one year only. We believe our current report continues to conform to the Canadian Award for Financial Reporting program requirements, and we will be submitting this Annual Report to GFOA to determine its eligibility for another award.

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For media inquiries, please call:
Hayley Goodgrove
Communications Specialist
250-598.3311
hgoodgrove@oakbay.ca