City receives financial recognition from GFOA

Lakewood has achieved a remarkable milestone by receiving the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for its 2023 Annual Comprehensive Financial Report (ACFR). This prestigious award marks the 11th consecutive year that Lakewood has been recognized for its excellence in governmental accounting and financial reporting. The GFOA awards this honor to local governments that exhibit a constructive spirit of full disclosure, effectively communicating their financial story to encourage reader engagement. City Manager John Caulfield expressed pride in the finance team's hard work, led by Deputy City Manager Tho Kraus, emphasizing their commitment to transparency and accuracy. He pointed out that this recognition not only honors the finance team but also reflects the entire organization's dedication to excellence.

With less than 2% of cities nationwide achieving this accolade, Lakewood stands out as a leader in financial reporting. The city plans to continue producing its ACFR and submitting it annually to GFOA for further recognition. This ongoing commitment underscores the importance of accountability and financial stewardship in local governance.