The City of Sun Prairie will continue tradition by submitting its 2020 Comprehensive Annual Financial Report and the 2020 Popular Annual Financial Report (PAFR) to the Government Finance Officers Association (GFOA) for review in their award programs.
The Certificate of Achievement for Excellence in Financial Reporting and the Popular Annual Financial Reporting Award Programs recognize state and local governments of all types and sizes on their high quality reports that promote better transparency of financial management.
The Comprehensive Annual Financial Report is a thorough and detailed report of the city’s financial condition and reports on its activities and balances for the fiscal year, while the PAFR is a user-friendly rendering of the full annual financial report.
The PAFR summarizes the information from the annual financial report and presents it in a more accessible and understandable way for the general public and other interested parties without a background in finance.
To receive recognition for the programs, the reports are scored based on categories such as compliance with generally accepted accounting principles and program policy, understandability, reader appeal and overall quality. If a government’s report wins an award, it will receive national recognition, along with a plaque and press release.
Recipients also receive feedback on their reports for areas of improvement to take into account for the following year. The city has received five awards for its Comprehensive Annual Financial Report and four awards for its PAFR.
In addition to the two financial statement awards, the City of Sun Prairie has also submitted and received the Distinguished Budget Award three times starting in 2018, with expectation that a fourth award will be received once the review process is complete for the 2021 budget document.
“It is a priority of ours to be transparent in all that we do here at the City,” said Kristin Vander Kooi, Finance Director. “We want to ensure that the financial information we are sharing with the public is high quality, thorough, and understandable.”
For more information and to review the city’s financial reports and budget documents, visit https://www.cityofsunprairie.com/313/Finance.