The Government Finance Officers Association of the United States and Canada (GFOA) announced the City of Round Rock has received the GFOA’s Certificate of Achievement for Excellence in Financial Reporting for the City’s most recent comprehensive annual financial report (CAFR).

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents “a significant accomplishment by a government and its management,” according to the GFOA.

The 188-page CAFR provides an overview and analysis of the City’s revenues and expenditures for the previous fiscal year and demonstrates the City’s commitment to stewardship and accountability with public funds. State law and city charter require audited financial statements each year, and this award indicates that City has met a higher standard to provide a more comprehensive look at Round Rock’s financial condition, funds, compliance and statistical information.

The CAFR was judged by an impartial panel to meet the high standards of the GFOA’s 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 CAFR.

The GFOA is a major professional association that provides best practices, professional development, resources and practical research to more than 21,000 government finance professionals and officials throughout North America.