Government - Internal City StructureBusiness - Tools For GrowthServices - Provided by the CityCommunity - Resident EngagementEnjoy Norfolk - Leisure & VisitorsHow Do I - Information Center
Elizabeth River with a Tugboat, Sailboat and the USS Wisconsin
home

Go To Search
InstagramLinkedinFacebookTwitterYouTubeRSS
Norfolk Cares
       Request Service

News, Home page

Posted on: August 13, 2019

City’s Popular Financial Report Receives National Recognition

Norfolk receives award for third year in a row

City’s Popular Financial Report Receives National Recognition
Norfolk receives award for third year in a row

NORFOLK, VA – If you want an easy to read report of Norfolk’s financial activities, the Popular Annual Financial Report is for you.  In fact, the report just received the highest honor from the Government Finance Officers Association of the United States and Canada (GFOA) for the fiscal year ending June 30, 2018.

The Award for Outstanding Achievement in Popular Annual Financial Reporting was awarded to Norfolk for its high standards in governmental accounting and financial reporting.  The award recognizes Norfolk’s finances for being soundly managed and transparent and the City’s reporting exceeding national guidelines.

This is the third time the City has submitted its PAFR for consideration, and the third year the City has received the elite award.  As a municipality, the city is required to produce audited financial statements and annually produce the more detailed Comprehensive Annual Financial Report (CAFR) document.  This document can be complex and difficult for residents to read and understand.  A PAFR is not a required document, but is considered a best practice designed to give residents an easy-to-understand overview of the City's financial position.

You can view both award winning financial documents on www.norfolk.gov. The City’s PAFR at https://www.norfolk.gov/Archive.aspx?AMID=128 and the Comprehensive Annual Financial Report is at https://www.norfolk.gov/Archive.aspx?AMID=44.

# # #
Facebook Twitter Google Plus Email

Other News in News, Home page

City-Wide Pavement Upgrades

Posted on: August 5, 2019