Malibu Receives 23rd Annual Award for Excellent Financial Reporting

The City of Malibu is proud to announce that it has once again earned the prestigious Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its Fiscal Year 2022-2023 Annual Comprehensive Financial Report (ACFR).

Mayor Doug Stewart called the award a powerful endorsement of Malibu's security, transparency, and good management: "Malibu's long-standing commitment to responsible and transparent management of taxpayer dollars is demonstrated by an incredible 23 consecutive awards from the GFOA. This recognition not only reflects our dedication to excellence in financial management; but also ensures that we can effectively fund vital projects and programs that our community needs. It positions us to respond effectively to challenges like disasters and weather economic downturns."

Receiving this distinguished award for 23 consecutive years underscores Malibu's unwavering dedication to financial excellence. An impartial panel of government finance professionals rigorously judges the award based on the high standards set by the ACFR program.

An impartial panel of government finance professionals rigorously judges the award based on the high standards set by the GFOA Certificate of Achievement for Excellence in Financial Reporting program.

The GFOA, a respected non-profit association representing approximately 17,500 government finance professionals, recognizes this Certificate of Achievement as the pinnacle of honor in governmental accounting and financial reporting.

Established in 1945, the GFOA's Certificate of Achievement for Excellence in Financial Reporting Program aims to inspire state and local governments to exceed basic accounting standards. This program celebrates governments that successfully prepare comprehensive financial reports that reflect a spirit of transparency and full disclosure, empowering users of these statements to make informed assessments of financial health.

For more insights into Malibu's financial management, visit the Finance webpage.

To learn more about the GFOA and its Certificate of Achievement for Excellence in Financial Reporting program, visit the GFOA website.