Excellence in Financial Reporting Award

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February 07, 2019
NEWS CONTACT
Karen Santos, Communications
479.784.2230 / karen.santos@fortsmithar.gov
 
FOR IMMEDIATE RELEASE
 
EXCELLENCE IN FINANCIAL REPORTING AWARD
“Committed to Full Disclosure, Transparency, and Accountability”
 
(February 6, 2019, Fort Smith, AR) — Accountants are thorough. After thoroughly examining our Comprehensive Annual Financial Report (CAFR), the Government Finance Officers Association of the United States and Canada (GFOA) has just announced that it has awarded the City of Fort Smith the “Certificate of Achievement in Financial Reporting.” This is the thirty-third (33) consecutive year the City has earned this distinction for excellence in financial reporting.
 
“The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management,” reads the GFOA news release announcing the accomplishment.
 
The award, presented to the Finance Department, is for our FY2017 CAFR, the most recent completed and audited comprehensive report available.
 
“The CAFR award program provides a rigorous examination of our financial statements, ensuring a transparent presentation of the City’s financial status that strikes a balance between comprehensiveness and readability,” Department of Finance Director Jennifer Walker said, reacting to award announcement.
 
According to GFOA’s release, the FY17 CAFR was reviewed by an impartial panel and judged “to meet the high standards of the program,” including “demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.”
 
“Our City’s Finance Department strives to present understandable financial statements that can be used by our community to evaluate the financial health of the City,” Walker said. “We are honored to participate in this program that continues to refine that process each year.”
 
“We value our talented and hardworking Finance staff, and congratulate them and Director Walker on this achievement,” said City Administrator Carl E. Geffken. “This award illustrates that we as a City—our staff, mayor, and board—are committed to full disclosure, transparency, and accountability as we strive every day to be good stewards of Fort Smith’s public funds.”
 
The most recent fiscal year, FY2018, has just closed. Auditing of the FY18 CAFR by the independent firm BKD Fort Smith, the largest CPA firm in Arkansas, is expected to be completed in June of this year.
 
Attachments:
  • Final_NEWS RELEASE_Financial Reporting Award_2.6.19 (.pdf)
  • GFOA News Release received 2.5.2019 (.png)
  • Certificate of Achievement (.png) 
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Contact:
Karen Santos, Communications
(479) 784-2230