City Receives Two Financial Reporting Awards from GFOA

The City of Portsmouth has received two awards for exceptional financial reporting from the Government Finance Officers Association (GFOA) for the publication of the Comprehensive Annual Financial Report (CAFR) and the Popular Annual Financial Report (PAFR). The GFOA is a professional organization of public officials united to enhance and promote the professional management of governmental financial resources by identifying, developing and advancing fiscal strategies, policies and practices for the public benefit.

GFOA awarded the Certificate of Achievement for Excellence in Financial Reporting for the City’s year ended June 30, 2017 CAFR. This marks the City’s 25th time receiving this award. The CAFR is an instrument of full financial disclosure and lends insight into the financial health of the City. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

GFOA also presented the City an Award for Outstanding Achievement in Popular Annual Financial Reporting for the City’s year ended June 30, 2017 PAFR. This is the first time Portsmouth has received this award. The PARF is a personal, summarized report geared towards citizens to help them better understand the CAFR, the City’s audited financial statements. The GFOA recognized the Finance Department’s narrative style in appealing to the community to help them comprehend the City’s financial and organizational operations.

The City’s CAFR and PAFR is prepared following the end of each fiscal year under the guidance of Finance Director Judie Belanger.

“It is always an honor to receive the CAFR award,” said Belanger. “However, I am especially pleased to receive the PAFR award in its second year of publication. This was an exciting report to create. We were able to take a very complex financial document and present it in a way that is easy to understand and at the same time provide other pertinent information regarding the City’s operations that is most informative to Portsmouth citizens. This report has been well received and we will continue to improve it.”

“I am proud that we have consistently been recognized for our CAFR for over two decades, but to also now be recognized for our PAFR demonstrates our Finance Department’s ongoing work to improve its reporting for the public’s education. Our community is very fortunate to have this high level of service,” said City Manager John Bohenko.

The PAFR, CAFR and annual budget documents can be found on the Finance Department’s page at https://www.cityofportsmouth.com/finance.