The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the city of Phoenix by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR).
The city has earned the award each year since 1976.
The award-winning CAFR was judged by an impartial panel to meet the high standards of the program, including demonstrating a constructive spirit of full disclosure to clearly communicate its financial story.
“This award demonstrates our commitment to go beyond the minimum requirements of financial reporting and transparency,” said Jeff DeWitt, director, Finance Department. “Attaining this distinguished award for 35 consecutive years represents a significant accomplishment by our city leaders, as this is the highest form of recognition for government accounting and financial reporting.”
Of the six largest cities in the United States, Phoenix is the only city that maintains a Standard & Poor’s AAA credit rating, with a stable outlook for the city’s general credit.
The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals.