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The original item was published from 10/21/2020 9:23:40 AM to 10/21/2020 9:34:48 AM.

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Posted on: October 21, 2020

[ARCHIVED] City of Jackson receives award for financial reporting

City Hall Oct. 2020

The City of Jackson is getting international recognition for its transparency in financial reporting. The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the City of Jackson for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending June 30, 2019. 

The City’s CAFR 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 its financial story and motivate potential users and user groups to read the 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.

“This is great for the City as a whole because it improves our bond rating,” said City Manager Jonathan Greene. Bond Ratings are letter grades assigned to bonds that indicates good or bad credit for an entity like the City of Jackson. Having a strong bond rating gives the City opportunities to pay back interest at lower rates. “Our Finance Director Phil Hones and his staff are to thank for this honor. We believe this award will help our residents understand the work we do to make the City’s finances transparent and easy to understand,” Greene said. 

The CAFR can be viewed on the City website and is accessed through the Finance Division section. 

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