The City of Lake Saint Louis has won an award from the Government Finance Officers Association (GFOA) for its financial reporting efforts. The GFOA Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in governmental accounting and financial reporting, reflecting a commitment by the Board of Aldermen to achieve and maintain an appropriate standard of excellence in financial reporting.
To receive the award, comprehensive annual financial reports must substantially comply with both generally accepted accounting principles (GAAP) and program policy as established by the GFOA's Special Review Executive Committee. The GFOA established the award to encourage state and local governments to prepare comprehensive annual financial reports that demonstrate the spirit of transparency and full disclosure.
Lake Saint Louis has received this award for its comprehensive annual financial reports since 1992.