CAMARILLO : City Is Honored for Financial Reporting

The city of Camarillo, which earlier this year reported that its finances were back in the black after a $25-million loss from high-risk investments two years ago, has been awarded a certificate of achievement for excellence in financial reporting, city officials said.

The certificate, from the Government Finance Officers Assn. of the United States and Canada, is awarded to city governments for submission of comprehensive annual financial reports, city officials said.

This is the second year that Camarillo has won the award, Assistant City Manager Larry Davis said. “We’re very pleased because this is only the second time we’ve submitted for the award,” he said.

The association, a nonprofit organization serving 12,200 government finance professionals, also gave an award for financial reporting to Joyce A. Marsh, the city’s former acting director of finance. Marsh is now assistant finance director.

Anita Bingham, the city’s present finance director, said that as of February, the city had $464,615 in reserves, contrasted with one year ago, when the city’s books showed a deficit of about $3 million.