Oct 17, 2023: PV Receives Multiple-Year Finance Awards

stock photo of financial charts and graphs

The Government Finance Officers Association announced that the Town of Prescott Valley has received GFOA's Certificate of Achievement for Excellence in Financial Reporting Award for the 26th year and its 11th GFOA Award for Outstanding Achievement for its Popular Annual Financial Report, both for the fiscal year ending June 30, 2022. Additionally, the Town received GFOA’s Distinguished Budget Presentation Award for the 22nd year, for the fiscal year beginning July 1, 2023.

The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment.  The report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the report. 

To be eligible for the Popular Annual Financial Reporting Award, a government must also receive the Certificate of Achievement for the current fiscal year. Each eligible report is reviewed by judges who evaluate it based on the following categories: reader appeal, understandability, distribution methods, creativity, and other elements.

The Distinguished Budget Award reflects the commitment of the Town staff to meeting the highest principles of governmental budgeting. To receive the budget award, the Town had to satisfy nationally recognized guidelines for effective budget presentation, designed to assess how well the Town’s budget serves as a policy document, a financial plan, an operations guide, and a communications device. Budget documents must be rated "proficient" in all four categories, and in the fourteen mandatory criteria within those categories, to receive the award. 

“We are proud of our Financial team for their achievement in earning these distinguished awards for so many years in a row, signifying their commitment to the community in financial excellence and transparency,” said Town Manager Gilbert Davidson.

Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 22,500 members and the communities they serve.