Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the City of Paducah for its Annual Comprehensive Financial Report for the fiscal year ending June 30, 2024.
This is the 34th consecutive year that Paducah has achieved this prestigious award.
“The City of Paducah prioritizes making financial information readily accessible and understandable to all residents,” said Mayor George Bray. “This award recognizes our dedication to maintaining the highest standards of fiscal responsibility. A recent example of this a shorter and easier to digest document called the Popular Annual Financial Report (PAFR). Any citizen can seek to understand our financial status and performance by reviewing that simplified document. We remain committed to transparency as that is the cornerstone of good governance, fostering trust and enabling informed participation in our city's future.”
The Annual Comprehensive Financial Report, a voluntary document compiled by the City for review and grading, includes the city’s audit and various financial and statistical reports. The report was judged by an impartial, independent panel to meet the program’s high standards which include clearly communicating the City’s financial story.
“We're thrilled to learn that Paducah has been awarded the prestigious Certificate of Achievement for the 34th consecutive year,” said City Manager Daron Jordan. “This remarkable achievement underscores our unwavering commitment to openness, accountability, and excellence in financial management.
This award assures residents that their tax dollars are being used responsibly and effectively to fund essential services and improve the quality of life in our community. We remain committed to building upon this legacy and ensuring that our city continues to be a model of financial transparency and accountability.”
Finance Director Jonathan W. Perkins said, “This award recognizes our commitment in going above and beyond the minimum requirements and pursuing the nation’s highest standards in governmental financial reporting. I’m honored to work with a team that is committed to sound financial management and fiscal accountability. We are honored to receive this recognition for the 34th year in a row."
Perkins added that this internationally recognized award is a critical element necessary for the City of Paducah to maintain a strong Standard & Poor’s AA- bond rating. An excellent credit rating, like Paducah’s, is further evidence that the City is serious about how it manages financial matters.
In addition to providing the city’s audit on the website, the public can view the award-winning Popular Annual Financial Report (PAFR), a condensed version of the city’s financial data, and see weekly financial updates through the Paducah Open Finance financial transparency web portal.
Visit Financial Transparency for more information.
GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
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