November 5, 2004November 5, 2004

GFOABC Municipal GFOABC Municipal Accounting and AuditingAccounting and AuditingBest Practices Workshop Best Practices Workshop

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

Report RequirementsReport Requirements3 Sections (plus Summary Grading)3 Sections (plus Summary Grading)

– Introductory Section (2 pages on Reviewers Checklist)Introductory Section (2 pages on Reviewers Checklist)• Cover, Title Page, Table of ContentsCover, Title Page, Table of Contents• List of Elected Officials & Department HeadsList of Elected Officials & Department Heads• Organizational ChartOrganizational Chart• Transmittal LetterTransmittal Letter

– Legislative AuthorityLegislative Authority– Entity and ServicesEntity and Services– Significant financial policies and resultsSignificant financial policies and results– Future OutlookFuture Outlook– Role of Auditor, Responsibility of ManagementRole of Auditor, Responsibility of Management

– Financial Section – PSAB (11.5 pages on Reviewers Checklist – 5 pages on Notes)Financial Section – PSAB (11.5 pages on Reviewers Checklist – 5 pages on Notes)– Statistical Section (1 page on Reviewer’s Checklist)Statistical Section (1 page on Reviewer’s Checklist)

• Select 5 year financial statisticsSelect 5 year financial statistics• DemographicsDemographics• Principal Corporate TaxpayersPrincipal Corporate Taxpayers

– Miscellaneous – Format stuff (1/2 page on Reviewer’s Checklist)Miscellaneous – Format stuff (1/2 page on Reviewer’s Checklist)

November 5, 2004November 5, 2004

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

Bio: Carol Engelking,

Bio: Carol Engelking,

CACA

November 5, 2004November 5, 2004

CAnFR AwardCAnFR AwardCity of Edmonton ExperienceCity of Edmonton Experience

C. EngelkingC. Engelking

Edmonton ExperienceEdmonton Experience• Detailed gap analysis done with 1992 Detailed gap analysis done with 1992

Annual ReportAnnual Report• Senior management support for changesSenior management support for changes• First GFOA application was with the 1993 First GFOA application was with the 1993

Annual ReportAnnual Report• Have successfully achieved the award Have successfully achieved the award

for each of the years 1993 through 2002for each of the years 1993 through 2002• Application outstanding for 2003Application outstanding for 2003

What it Means – Value AddWhat it Means – Value Add• An external quality measureAn external quality measure• Provides additional comfort to Audit Provides additional comfort to Audit

Committee and City Council Committee and City Council • Internal goal – an achievement to celebrate!Internal goal – an achievement to celebrate!• Additional profile to your municipalityAdditional profile to your municipality• Certificate in Annual Report to readersCertificate in Annual Report to readers• More consistent framework across municipal More consistent framework across municipal

Annual ReportsAnnual Reports

Tips and TricksTips and Tricks• Plan extensively up front Plan extensively up front • Identify necessary resources and get them Identify necessary resources and get them

onboardonboard• Refer to examples of municipalities who Refer to examples of municipalities who

have met the standardhave met the standard• Stay connected within your organization – Stay connected within your organization –

much of the information is resident in much of the information is resident in other documents or processesother documents or processes

• Have some fun – it’s an opportunity for Have some fun – it’s an opportunity for creativity!creativity!

November 5, 2004November 5, 2004

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

Bio: Nancy Gomerich,

Bio: Nancy Gomerich,

CACA

Pitt Meadows ExperiencePitt Meadows ExperienceJust Did it!!!!Just Did it!!!!• Took about 1 weeks worth of time to put Took about 1 weeks worth of time to put

together (about an extra day to day and one-together (about an extra day to day and one-half each year thereafter)half each year thereafter)

• Why? Why? •Passion for making financial information Passion for making financial information

understandableunderstandable• Increases Accountability Increases Accountability • Improved Public Image and confidenceImproved Public Image and confidence

Pitt Meadows ExperiencePitt Meadows ExperienceHow?How?• Much of the information was “borrowed”Much of the information was “borrowed”

•Demographics – Statistics CanadaDemographics – Statistics Canada• Info on Organization & Services – Municipal Red BookInfo on Organization & Services – Municipal Red Book•General format Treasurer’s Report, Transmittal General format Treasurer’s Report, Transmittal

Letter, Statistical Section – City of Maple Ridge…Letter, Statistical Section – City of Maple Ridge…minusminus

• Or we already had:Or we already had:•Organizational Chart, Financial Statements (lots of 5 Organizational Chart, Financial Statements (lots of 5

year stats came from these)year stats came from these)

Tips and TricksTips and Tricks• Build on the Charter required Annual Corporate Build on the Charter required Annual Corporate

ReportReport– Issue: GFOA required format and focus conflicts with Issue: GFOA required format and focus conflicts with

typical Corporate Annual Reporttypical Corporate Annual Report– Need to add: Some information about organization, Need to add: Some information about organization,

statistical section (demographics and statistics) statistical section (demographics and statistics) • Get your Auditors involvedGet your Auditors involved• Go through the reviewers checklistGo through the reviewers checklist• ““Borrow” and don’t “reinvent the wheel”Borrow” and don’t “reinvent the wheel”• Pay attention to the little things Pay attention to the little things • Make sure your Financial Statements meet PSABMake sure your Financial Statements meet PSAB

Other StuffOther Stuff• Make sure your Financial Statements Make sure your Financial Statements

are… beautiful! Do a really good are… beautiful! Do a really good Treasurer’s ReportTreasurer’s Report

• Present the Report to Council and the Present the Report to Council and the PublicPublic

• Ensure the Award is presented each Ensure the Award is presented each year at a televised Council Meeting and year at a televised Council Meeting and the current award is hung in a the current award is hung in a prominent place in City Hall!prominent place in City Hall!

November 5, 2004November 5, 2004

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

Bio: Tim Beauchamp,

Bio: Tim Beauchamp,

CACA

November 5, 2004November 5, 2004

Role of the Role of the ReviewerReviewer

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

• Ensure compliance with rules Ensure compliance with rules • Assess overall appealAssess overall appeal• Provide suggestions for improvementProvide suggestions for improvement• Determine if award grantedDetermine if award granted• Is this a document to use as an example?Is this a document to use as an example?

November 5, 2004November 5, 2004

Tips & TricksTips & Tricks

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

• Financial assets/liabilities definitionsFinancial assets/liabilities definitions• Relation to revenue/expendituresRelation to revenue/expenditures• Cash flow statementCash flow statement• Notes to the F/SNotes to the F/S• Linking F/S to narrativesLinking F/S to narratives

November 5, 2004November 5, 2004

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

City of Abbotsford, British ColumbiaCity of Abbotsford, British Columbiahttp://www.city.abbotsford.bc.ca/annual%20report/TOC.pdfhttp://www.city.abbotsford.bc.ca/annual%20report/TOC.pdf

City of Coquitlam, British ColumbiaCity of Coquitlam, British Columbiahttp://www.coquitlam.ca/NR/rdonlyres/2C6AAE58-8140-4B40-9C7http://www.coquitlam.ca/NR/rdonlyres/2C6AAE58-8140-4B40-9C75-915D1A6D4334/0/2003AnnualReport.pdf5-915D1A6D4334/0/2003AnnualReport.pdf

City of Edmonton, AlbertaCity of Edmonton, AlbertaCity of Kelowna, British ColumbiaCity of Kelowna, British Columbia

http://www.city.kelowna.bc.ca/citypage/docs/pdfs/departments/cihttp://www.city.kelowna.bc.ca/citypage/docs/pdfs/departments/city%20managers%20office/communications%20section/2002%20ty%20managers%20office/communications%20section/2002%20annual%20financial%20report.pdfannual%20financial%20report.pdf

City of Lethbridge, AlbertaCity of Lethbridge, Albertahttp://www.lethbridge.ca/NR/rdonlyres/2F8CE969-6DE9-411E-B3Ahttp://www.lethbridge.ca/NR/rdonlyres/2F8CE969-6DE9-411E-B3AB-340EC5A532B8/983/2003AnnualReport1.pdfB-340EC5A532B8/983/2003AnnualReport1.pdf

AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002

November 5, 2004November 5, 2004

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

City of Medicine Hat, AlbertaCity of Medicine Hat, Albertahttp://www.city.medicine-hat.ab.cahttp://www.city.medicine-hat.ab.ca

City of Mississauga, OntarioCity of Mississauga, OntarioCity of Montreal, QuebecCity of Montreal, Quebec

http://www2.ville.montreal.qc.ca/finances/rapfin/rapfina.shtmhttp://www2.ville.montreal.qc.ca/finances/rapfin/rapfina.shtmCity of Port Alberni, British ColumbiaCity of Port Alberni, British Columbia

http://www.city.port-alberni.bc.ca/http://www.city.port-alberni.bc.ca/City of Regina, SaskatchewanCity of Regina, SaskatchewanCity of Richmond, British ColumbiaCity of Richmond, British Columbia

http://www.city.richmond.bc.ca/admin/annual_report.htmhttp://www.city.richmond.bc.ca/admin/annual_report.htmCity of Saskatoon, SaskatchewanCity of Saskatoon, Saskatchewan

http://www.city.saskatoon.sk.ca/org/finance/reports/index.asphttp://www.city.saskatoon.sk.ca/org/finance/reports/index.asp

AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002

November 5, 2004November 5, 2004

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

City of St. Albert, AlbertaCity of St. Albert, Albertahttp://www.city.st-albert.ab.ca/public/data/documents/ACFE.pdfhttp://www.city.st-albert.ab.ca/public/data/documents/ACFE.pdf

City of Surrey, British ColumbiaCity of Surrey, British Columbiahttp://www.city.surrey.bc.ca/NR/rdonlyres/epfix6te6qvjxcyqjtmcrnhttp://www.city.surrey.bc.ca/NR/rdonlyres/epfix6te6qvjxcyqjtmcrnvddtfp4zwbvv4csx7fxfyof7ajbyclc2jq44ijafwjhza4ightvefkvzizarcevddtfp4zwbvv4csx7fxfyof7ajbyclc2jq44ijafwjhza4ightvefkvzizarcedfhz5ue/2002+Financial+Statements.pdfdfhz5ue/2002+Financial+Statements.pdfCity of Yellowknife, Northwest TerritoriesCity of Yellowknife, Northwest Territories

http://www.city.yellowknife.nt.ca/userfiles/HTML/nts_1_186_1.htmhttp://www.city.yellowknife.nt.ca/userfiles/HTML/nts_1_186_1.htmll

Corporation of the City of Brampton, OntarioCorporation of the City of Brampton, Ontariohttp://www.city.brampton.on.ca/annual_report/report.tml?rnav=0http://www.city.brampton.on.ca/annual_report/report.tml?rnav=0rnav=244rnav=244Corporation of the City of Burlington, OntarioCorporation of the City of Burlington, OntarioCorporation of the District of Maple Ridge, British ColumbiaCorporation of the District of Maple Ridge, British Columbia

http://www.mapleridge.org/municipal/departments/finance.htmlhttp://www.mapleridge.org/municipal/departments/finance.html

AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002

November 5, 2004November 5, 2004

Achieving the GFOA CAnFR Achieving the GFOA CAnFR AwardAward

Corporation of the District of Pitt Meadows, British Corporation of the District of Pitt Meadows, British ColumbiaColumbiahttp://www.pittmeadows.bc.ca/government/general/annualfinreport.htmlhttp://www.pittmeadows.bc.ca/government/general/annualfinreport.html

Corporation of the Town of Markham, OntarioCorporation of the Town of Markham, Ontariohttp://www.markham.ca/markham/channels/finserv/overview.htmhttp://www.markham.ca/markham/channels/finserv/overview.htm

Corporation of the Town of Oakville, OntarioCorporation of the Town of Oakville, Ontariohttp://www.oakville.ca/TownServices/serv_8324.htmhttp://www.oakville.ca/TownServices/serv_8324.htm

County of Lethbridge, AlbertaCounty of Lethbridge, AlbertaParkland County, AlbertaParkland County, AlbertaRegional Municipality of Peel, OntarioRegional Municipality of Peel, Ontario

http://www.region.peel.on.ca/finance/ar2003/ar2003-reports.htmhttp://www.region.peel.on.ca/finance/ar2003/ar2003-reports.htmRegional Municipality of York, OntarioRegional Municipality of York, Ontario

http://www.region.york.on.ca/About+Us/Annual+Reports/http://www.region.york.on.ca/About+Us/Annual+Reports/Annual+Reports.htmAnnual+Reports.htm

AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002AWARD WINNERS FOR FISCAL YEARS ENDED IN 2002

Thanks for your attention!Thanks for your attention!