FAIR OAKS RANCH — The Fair Oaks Ranch Finance Department has received the Popular Annual Financial Reporting award for the second consecutive year, solidifying its status as a Triple Crown winner also for the second year in a row.
The finance department has received recognition for: Excellence in Financial Reporting; achieved the Distinguished Budget Presentation Award; and received the Certificate of Achievement for Excellence in Finance Reporting.
This recognition is awarded by the Government Finance Officers Association, underscoring the city’s commitment to transparency, accountability and excellence in financial reporting.
The PAFR program was established in 1991 to encourage state and local governments to present their annual comprehensive financial reports in a format that is accessible and comprehensible to the public without requiring a background in public finance.
Fair Oaks Ranch’s success in achieving this goal highlights its dedication to enhancing public understanding of its financial operations and promoting informed community engagement, city officials stated in a Feb. 14 press release.
Finance department officials were recipients of the GFOA’s “Distinguished Budget Presentation Award” as well. The award “reflects the highest form of recognition in governmental budgeting” and represents a significant achievement by the city.
The award, according to the press release, assesses how well an entity’s budget serves as a policy document, a financial plan, an operations guide, and a communications device, meeting criteria nationally recognized as best practices in public budgeting.
The certificate of achievement is the highest form of recognition in governmental accounting and financial reporting.
Achieving this certificate “signifies Fair Oaks Ranch’s commitment to transparency and full disclosure and represents a significant accomplishment by a government and its management,” the city release stated.
The three awards designate Fair Oaks Ranch as a Triple Crown awardee for 2022, the most recent year for which all data has been available for review.
The Fair Oaks Ranch Finance Department’s back-to-back achievements in receiving the PAFR Award and maintaining its status as a Triple Crown winner underscore its ongoing commitment to excellence.
“These awards are a reflection of our team’s hard work, dedication, and relentless pursuit of improving our financial reporting and budgeting processes,” Summer Fleming, city director of finance, said. “We are honored to be recognized by the GFOA and remain committed to upholding the highest standards of financial transparency and accountability.”
The GFOA, founded in 1906, represents public finance officials throughout the United States and Canada. The association’s mission is to advance the practice of government finance by providing best practices, professional development, resources, and practical research for all levels of government.
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