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Geneva’s financial reporting earns national award for fourth straight year

Mar 01, 2017 12:26PM ● Published by Neighbors Magazines

The City of Geneva’s Comprehensive Annual Financial Report (CAFR) continues to earn the highest form of recognition in the area of governmental accounting and financial reporting.

The Government Finance Officers Association of the United States and Canada has awarded Geneva with the Certificate of Achievement for Excellence in Financial Reporting for the fourth consecutive year. The award “represents a significant accomplishment by a government and its management,” according to the association.

The City’s 2015-16 audit report, which was released last fall and was reviewed by the association this year, contains financial statements and records from the past decade, property tax and debt data, and general statistical information about Geneva.

Geneva’s comprehensive financial report has been judged by an impartial panel to meet the high standards of the association’s program, including demonstrating a constructive spirit of full disclosure to clearly communicate its financial story and motivate potential users to read the report.

The Government Finance Officers Association is a non-profit organization serving about 17,500 government finance professionals.

The CAFR recognition adds to Geneva’s growing list of financial accomplishments. The association also has honored the City with the Distinguished Budget Presentation Award the past seven years.

POPULAR ANNUAL FINANCIAL REPORT

Residents wanting to learn more about the City's fiscal health will find plenty of information in the 200-page comprehensive annual audit.

Before people feel the need to rush out to earn that finance degree, there is an easier alternative.

The City has created a Popular Annual Financial Report, a 14-page, visually-friendly summary of the annual audit filled with photos and graphs. This new report continues the City's effort to promote transparency by giving casual readers a better understanding on the complexities of government finances.

Both the Comprehensive and Popular annual financial reports can be found on the City’s website at www.geneva.il.us under the “Government Transparency” link.

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