Wake Forest PAFR earns financial reporting award
The Government Finance Officers Association (GFOA) recently named the Town of Wake Forest as the recipient of the GFOA’s Award for Outstanding Achievement in Popular Annual Financial Reporting for its Citizens’ Financial Report for the fiscal year ended June 30, 2020. This marks the fourth consecutive year the Town has garnered the award.
Valid for one year, the Award for Outstanding Achievement in Popular Annual Financial Reporting is a prestigious national award recognizing conformance with the highest standards for preparation of state and local popular reports. To receive the honor, a government unit must publish a Citizens Financial Report or Popular Annual Financial Report (PAFR), whose contents conform to program standards of creativity, understandability, distribution methods, reader appeal and other elements.
The PAFR is prepared to inform Wake Forest residents about the Town's finances in a format that is easy to understand by those without a background in public finance or accounting. The document is designed for readers who would like to review financial and operational information in a summarized format. It also provides non-financial information to give users a better understanding of the community. To view the Town’s 2020 PAFR, visit http://bit.ly/WF_PAFR.
Chief Financial Officer Aileen Staples acknowledged the significant role the PAFR designer played in securing the award.
“Reader appeal and understandability are two key areas in which the PAFR is rated, and that’s where our document truly stands out,” said Staples. “(Graphic Designer) Michele Barnes’ creative talents and her ability to effectively present the Town’s financial and operational information in a manner that is both visually appealing and interesting for the reader is exceptional, and I am especially grateful for her efforts.”
The Award for Outstanding Achievement in Popular Annual Financial Reporting is the third award the GFOA has presented to Wake Forest over the last several months. In June, the GFOA awarded the Town the Certificate of Achievement for Excellence in Financial Reporting for its Annual Financial Report for the period ended June 30, 2020. A month earlier, Wake Forest earned the GFOA’s Distinguished Budget Presentation Award for its fiscal year 2020-21 annual budget. In recognition of the three awards, the GFOA presented the Town with a Triple Crown medallion.
A professional association headquartered in Chicago, Illinois. the GFOA advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 21,000 members and the communities they serve.
For more information, contact Chief Financial Officer Aileen Staples at 919-435-9461 or [email protected].