“Peachtree Corners Celebrates 5 Years of Finance Excellence: A Remarkable Achievement”

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Peachtree Corners Finance Department Receives Prestigious Award for Excellence in Financial Reporting

In a remarkable achievement, the City of Peachtree Corners‘ Finance Department has been honored with the prestigious Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its 2022 financial year-end comprehensive annual financial report (CAFR). The GFOA’s Certificate of Achievement is considered the highest recognition in governmental accounting and financial reporting, and attaining this award signifies a significant accomplishment by the city and its management. This marks the fifth consecutive year that Peachtree Corners has received the esteemed award, a testament to the exceptional work of the Finance Department and its leadership.

Understanding the Significance of the Award

The Government Finance Officers Association’s Certificate of Achievement carries immense significance in the field of government financial reporting. The award recognizes the city’s commitment to upholding the highest standards of transparency and disclosure in its financial practices. Through an impartial evaluation process, the CAFR is judged to demonstrate a constructive “spirit of full disclosure” that effectively communicates the city’s financial story to potential users and stakeholders, motivating them to engage with the report.

City Manager Brian Johnson expressed pride and appreciation for the Finance Department’s achievement, acknowledging Finance Director Cory Salley’s exceptional leadership. This recognition underscores Peachtree Corners’ dedication to going above and beyond the minimum requirements, emphasizing their commitment to providing comprehensive annual financial reports that instill trust and confidence in the community and beyond.

The Role of Peachtree Corners’ Finance Department

The Finance Department of Peachtree Corners plays a pivotal role in the preparation and presentation of the CAFR. Each year, the department collaborates with independent auditors to verify the city’s financial status, ensuring accuracy, transparency, and compliance with established accounting standards.

The CAFR serves as a comprehensive financial document that encompasses the city’s financial activities throughout the year, presenting an in-depth analysis of revenue, expenditures, assets, and liabilities. This detailed report allows stakeholders, residents, and potential investors to gain a clear understanding of the city’s financial health and strategic priorities.

Assistant City Manager, Brandon Branham, highlighted the significance of the award and its alignment with Peachtree Corners’ values. By exceeding the standard requirements for financial reporting, the city demonstrates its unwavering commitment to transparency, accountability, and fiscal responsibility.

Government Finance Officers Association

The Government Finance Officers Association (GFOA) is a distinguished non-profit professional association catering to approximately 17,500 government finance professionals. With headquarters in both Chicago and Washington, D.C., the GFOA is dedicated to advancing uniform standards and procedures in financial management for governments. Additionally, the association plays a vital role in promoting professional development opportunities for public finance managers.

The GFOA’s role in recognizing excellence in financial reporting is critical to fostering responsible financial practices across various governmental entities. Through its impartial evaluation process, the GFOA ensures that awarded CAFRs adhere to the highest standards of financial reporting, thereby inspiring other governments to strive for similar levels of excellence.

Conclusion:

The City of Peachtree Corners’ Finance Department’s receipt of the Certificate of Achievement for Excellence in Financial Reporting is a remarkable testament to the city’s commitment to transparency, accountability, and exceptional financial management. The award represents the Finance Department’s dedication to surpassing the minimum requirements, providing comprehensive and accessible financial information to all stakeholders. With their fifth consecutive award, Peachtree Corners has solidified its position as a leader in governmental financial reporting, setting a shining example for other municipalities to follow. The city’s continued partnership with the Government Finance Officers Association ensures a bright future of responsible financial management and reporting.