City of Brampton recognized for excellence in financial reporting

BRAMPTON, For the 19th consecutive year, the City of Brampton has won the Canadian Award for Financial Reporting (CAnFR) from the Government Finance Officers Association (GFOA) of the United States and Canada.

The CAnFR award, presented for the City’s 2019 Annual Financial Report, recognizes excellence in government accounting and financial reporting, and represents a significant accomplishment by a local government and its management.

Brampton won the CAnFR award by exceeding the minimum requirements of Generally Accepted Accounting Principles (GAAP) set out by the Public Sector Accounting Board (PSAB) of the Chartered Professional Accountants (CPA) of Canada, and by preparing a comprehensive and high-quality annual financial report, rooted in the spirit of transparency and full disclosure.

The CAnFR Award Program was established to encourage municipal governments in Canada to publish high-quality financial reports and to provide peer recognition and technical guidance for officials preparing these reports.

The annual financial report has been judged by impartial Canadian Review Committee members to meet the high standards of the program, including demonstrating a constructive “spirit of full disclosure” designed to clearly communicate Brampton’s financial story and to motivate potential users and user groups to read the report.

Patrick Brown, Mayor, City of Brampton said, “Our taxpayers expect nothing less of us than full transparency and sound financial practices. Winning the prestigious GFOA award for financial reporting re-affirms our commitment to our citizens and strengthens our image as we continue to attract national and international investments to Brampton.”

Harkirat Singh, City Councillor, Wards 9 & 10; Chair, Corporate Services, City of Brampton Said, “I am proud to say that Brampton has won the prestigious CAnFR award for financial reporting for 19 consecutive years. Meeting the stringent requirements of the award program requires a significant commitment on the part of staff who collaborate to prepare the annual report.”

While David Barrick, Chief Administrative Officer, City of Brampton said, “The CAnFR award represents a significant accomplishment by the City of Brampton and its management. Winning this award is a testament to our staff and the City’s high-quality standards in financial reporting and the principles of transparency and full disclosure, aligned with Council priority of being a Well-Run City”

About the author

Asia Metro Editor

Surjit Singh Flora

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