Audits might not be the most exciting thing to talk about (unless you are the one being audited!) but in this case, the Comprehensive Annual Report, known as the CAFR, is pretty significant. Why? It ensures accountability and transparency on how the City of Reno is spending its money, managing its funds and handling its budget.

The Reno City Council officially signed off on the CAFR, for FY 2008-09 this week. The FY 2008-09 CAFR received a clean opinion from the City’s external auditors, Gallina, LLP.

For the past 26 years in a row, Reno’s Finance Department has received a Certificate of Excellence in Financial Reporting from the Government Financial Officers Association, which is the highest form of recognition in the area of governmental accounting and financial reporting. The FY 2008-09 CAFR will be submitted to the Association this month for consideration of this honor once again.

The Government Finance Officers Association of the United States and Canada is a nonprofit, professional organization serving approximately 15,000 government finance professionals.