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Posted on: January 4, 2024

City recognized for excellence in financial reporting for 36th straight year

Six finance staff pose for picture

For the 36th year in a row the City of Boerne has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the US and Canada (GFOA).

Making dollars and cents of the City’s annual finances is handled by the Finance Department’s staff of eight. Recognition was given for their work on the Annual Comprehensive Financial Report for the 2022 fiscal year that ended in September. This detailed report is produced by staff each year following an outside independent audit of the City’s finances.

“The Excellence in Financial Reporting recognition reflects the commitment of Finance Department staff to continue in the City’s strategic, responsible, and transparent financial management that has become the standard over the past several decades,” City Manager Ben Thatcher said.

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, according to GFOA.

Boerne is one of only 43 cities to be awarded this distinction for the previous fiscal year out of the more than 1,200 municipalities in Texas.

The report was 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 the City’s financial story.

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program to recognize governments that go above and beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure.

The City’s demonstrated conservative and responsive approach to financial management is further affirmed by its Moody’s Aa2 credit rating from Moody’s Investors Services, which exceeds a median rating of Aa3 for U.S. cities.

Learn more about the Annual Comprehensive Financial Report.

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