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Geneva earns trifecta of finance reporting achievements

Mar 23, 2017 09:31AM ● Published by Neighbors Magazines

Geneva’s financial reporting and transparency efforts have culminated in its third national award in 2017, the latest for the City’s first Popular Annual Financial Report (PAFR).

The Government Finance Officers Association of the United States and Canada presented the award to Geneva at the March 20 City Council meeting. The award signifies the highest form of recognition in the field of governmental accounting and financial reporting.

The PAFR was created to help Geneva residents and stakeholders who wanted to learn more about the City’s fiscal health but might find the idea of reading the 200-page Comprehensive Annual Financial Report a daunting task. The 14-page, visually-friendly audit summary is filled with photos and graphs offering readers a better understanding of the complexities of government finances as well as:

·         Population/Census data

·         Top area employers

·         City government organization chart

·         Sales tax rates

·         Property assessments & tax bill details.

The PAFR award is bestowed to less than 0.5 percent of governments across the country and represents the trifecta of Geneva’s national financial reporting achievements. Earlier this year, Geneva earned its seventh consecutive Distinguished Budget Presentation Award and fourth straight Comprehensive Annual Financial Report Award for the annual audit.

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

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

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