The City of Jacksonville’s Finance Department has received a Certificate of Achievement from the Government Finance Officers Association (GFOA), for excellence in Financial Reporting. A significant accomplishment for the City, the award is GFOA’s highest form of recognition in the area of governmental accounting and financial reporting.
The recognition is
for Jacksonville’s Comprehensive Annual Financial Report (CAFR) for the 2018 Fiscal Year, adopted by the City Council in September 2017, and is the culmination of a more than two years-long process of preparing, presenting, and auditing the City budget. A mandatory municipal audit was conducted by Pattillo, Brown, and Hill of Waco, Texas about the amounts and disclosures of the City’s finances. Findings presented to the Council in March 2019 concluded that the City of Jacksonville “present(s) fairly, in all material respects…’ financial reports which are “in accordance with accounting principles generally accepted in the United States of America.”
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure. The goal of the program is to ensure that users of their financial statements have the information they need to do so themselves, and to recognize individual governments that succeed in achieving that goal.
Awardees are determined by the GFOA Special Review Committee (SRC), which comprises individuals with expertise in public sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.
“We are proud of this recognition.” Says Finance Director Roxanna Briley, “We want to make sure that the citizens’ of Jacksonville know how their tax dollars are spent, and to be recognized for our hard work feels great.”
After earning the Distinguished Budget Presentation Award for the 2020 budget, it is the City of Jacksonville’s latest award from GFOA. The City was also awarded an initial Transparency Star for Traditional Finances earlier this year by the Texas Comptroller’s office, an honor received by less than 15% of incorporated cities in the State of Texas.
“Our Finance team works hard for the citizens’ of Jacksonville.” Says City Manager Greg Smith, “This award confirms that we uphold the highest standards for financial reporting.”
The City of Jacksonville’s budget is publicly accessible on the City’s website at JacksonvilleTX.org.