The City of Murrieta is proud to be a recipient of three distinguished awards that highlight the importance of transparent and accurate financial reporting. The Government Finance Officers Association (GFOA) awarded both the Distinguished Budget Presentation Award for the Fiscal Year 2023/24 and 2024/25 Biennial Budget report and the Achievement for Excellence in Financial Reporting for the Fiscal Year 2021/22 Annual Comprehensive Financial Report. In addition, the California Society of Municipal Finance Officers (CSMFO) awarded the City their Capital Budget Excellence Award for the Fiscal Year 2023/24 Capital Improvement Plan and Budget report.
“The awards and certificates represent the highest form of recognition for governmental agencies in financial reporting and budgeting,” noted Javier Carcamo, who is the City of Murrieta Finance Director. “This is the City’s fifteenth consecutive Achievement for Excellence in Financial Reporting award and twenty-fifth in City history. This is the City’s second consecutive award for the Biennial Budget report. This recognition reflects the commitment of the City Council, management, and finance staff to constant improvement in transparency and financial reporting.”
Biennial Operating Budget Report
These awards recognize the Murrieta Finance Department’s effective efforts to clearly communicate its financial story and motivate constituents and user groups to read the financial reports. It reflects the commitment of the City Council and staff to meeting the highest principles of governmental budgeting. To receive the Distinguished Budget Presentation Award, the City of Murrieta had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an entity’s budget serves as the following elements:
- A policy document
- A financial plan
- An operations guide
- A communications device
Budget documents must be rated “proficient” in all four categories and in the fourteen mandatory criteria within those categories to receive the award.
Annual Comprehensive Financial Report
Local governments are required to produce and distribute an Annual Comprehensive Financial Report each year to meet generally accepted accounting standards established by the Government Accounting Standards Board. The Annual Report is a thorough and detailed presentation of the City’s financial condition, including financial activity for a fiscal year and its end-of-the-year financial position. The data reported in the Annual Report encompasses all the City’s programs and departments.
The comprehensive document contains three sections:
- Introductory section
- Financial section, including financial statements, an independent auditor’s report, and management’s discussion and analysis
- Statistical section, which includes additional financial, economic, and demographic information
Capital Improvement Plan Budget
The Capital Budget Excellence Award recognizes agencies with well-presented budget documents, best practices, processes, and procedures. Submissions undergo rigorous reviews, and the City of Murrieta is proud to have earned this acknowledgment. This is the City’s second consecutive award from CSMFO. Recipients of these awards have pioneered efforts to improve the quality of budgeting and financial reporting and provide an excellent example for other governments throughout North America. To learn more about the City of Murrieta’s Finance Department and to view these reports online, visit the City’s website: www.MurrietaCA.gov/Finance.
About Government Finance Officers Association
Government Finance Officers Association advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve.
About California Society of Municipal Finance Officers
The California Society of Municipal Finance Officers serves all government finance professionals through innovation, collaboration, continuing education, and professional development. The purpose of the California Society of Municipal Finance Officers is to improve the knowledge, skills, and performance of individuals responsible for municipal and other local government fiscal policy and management. The organization reinforces professionalism in financial management.
About Murrieta (www.murrietaca.gov)
Murrieta‘s more than 115,000 residents live in one of the safest cities in the U.S., with top-ranked schools, 53 parks, and a dynamic business environment. Central to all of Southern California, Murrieta is truly the gem of the valley. With a median age of 36 and an average household income of $136,000, Murrieta boasts a well-educated population and a strong labor force. Ranked the fiscally healthiest full service city (with more than 100,000 residents) in Los Angeles, Orange, Riverside, San Bernardino, and San Diego counties, Murrieta’s future is undoubtedly bright.