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News

City earns national awards for excellence in financial reporting

Published on February 22, 2023 under RRnews

The City of Round Rock recently received two awards for excellence in financial reporting from the Government Finance Officers Association (GFOA).

Round Rock received GFOA’s Certificate of Achievement for Excellence in Financial Reporting for the City’s most recent annual comprehensive financial report (ACFR), and the Outstanding Achievement Award for its latest popular annual financial report (PAFR).

The Outstanding Achievement Award and Certificate of Achievement for Excellence are the highest forms of recognition in the area of governmental accounting and financial reporting, and the attainment of this recognition represents “a significant accomplishment by a government and its management,” according to the GFOA.

The 175-page ACFR provides an overview and analysis of the City’s revenues and expenditures for the previous fiscal year and demonstrates the City’s commitment to stewardship and accountability with public funds. State law and city charter require audited financial statements each year, and this award indicates that the City has met a higher standard to provide a more comprehensive look at Round Rock’s financial condition, funds, compliance and statistical information.

The 18-page PAFR is intended to provide information about the City of Round Rock’s finances in a quick and easy to read format.

Both of the reports were judged by an impartial panel to meet the high standards of the GFOA’s program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read and understand the documents.

The GFOA is a major professional association that provides best practices, professional development, resources and practical research to more than 21,000 government finance professionals and officials throughout North America.

A comprehensive catalogue of the City of Round Rock’s recent financial reports is available online at https://www.roundrocktexas.gov/city-departments/finance/financial-reports/.

The post City earns national awards for excellence in financial reporting appeared first on City of Round Rock.

Source: City of Round Rock

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