The Government Finance Officers Association (GFOA) recently named the Town of Wake Forest as the recipient of the GFOA’s Award for Outstanding Achievement in Popular Annual Financial Reporting for its Citizens’ Financial Report for the fiscal year ended June 30, 2019. This marks the third consecutive year the Town has garnered the award.
The Award for Outstanding Achievement in Popular Annual Financial Reporting is a prestigious national award recognizing conformance with the highest standards for preparation of state and local popular reports. To receive the honor, a government unit must publish a Citizens Financial Report, also known as a Popular Annual Financial Report (PAFR), whose contents conform to program standards of creativity, understandability, distribution methods, reader appeal and other elements.
The Citizens Financial Report, or PAFR, is prepared to inform Wake Forest residents about the Town’s finances in a format that is easy to understand by those without a background in public finance or accounting. The document is designed for readers who would like to review financial and operational information in a summarized format. It also provides non-financial information to give users a better understanding of the community. To view the Town’s 2019 PAFR, visit http://bit.ly/WF_PAFR.
Chief Financial Officer Aileen Staples acknowledged the significant role the PAFR designer played in securing the award.
“Reader appeal and understandability are two key areas in which the PAFR is rated, and that’s where our document truly stands out,” said Staples.
“(Graphics Coordinator) Bess Martinson’s creative talents and her ability to effectively present the Town’s financial and operational information in a manner that is both visually appealing and interesting for the reader is unprecedented and I am especially grateful for her efforts.”
The Award for Outstanding Achievement in Popular Annual Financial Reporting is valid for a period of one year.
The GFOA, a major professional association, advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 20,500 members and the communities they serve. The association is headquartered in Chicago, Illinois.
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