Audit & Annual Comprehensive Financial Reports

The City of Waconia has an audit performed by an independent certified public accounting (CPA) firm each year as required by state law. The firm determines whether the city has been following generally accepted accounting practices and tests transactions to verify that procedures have been followed properly. The auditors have given the city an unqualified opinion that our financial statements are an accurate reflection of the city’s financial health.

Government Finance Officers Association Program

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Waconia for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended December 31, 2021. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. This is the 9th consecutive year that the City has achieved this award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized annual comprehensive financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The City is submitting the 2022 report to GFOA for consideration of the Certificate of Achievement for Excellence in Financial Reporting. We believe our current report continues to conform to the high standards of the certificate program.