Palm Coast - The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the City of Palm Coast two recognitions in the area of finance for the fiscal year ending Sept. 30, 2016 - the Certificate of Achievement for Excellence in Financial Reporting and an Award for Outstanding Achievement in Popular Annual Financial Reporting.

This is the 16th consecutive year Palm Coast received the first award, which is for its Comprehensive Annual Financial Report (CAFR; audited financial statements). The second award, for a document known as the PAFR (the Popular Annual Financial Report), is for a report the City compiles voluntarily; that recognition has been earned by the City for four straight years. The City's Finance Department, received the awards.

The Certificate of Achievement for Excellence in Financial Reporting 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.

The Comprehensive Annual Financial Report was judged by an impartial panel to meet the high standards of the program including demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the report.

The Award for Outstanding Achievement in Popular Annual Financial Reporting is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government popular reports. To earn the award, a City or other government agency must publish a PAFR whose contents adhere to program standards of creativity, presentation, understandability and reader appeal.

The report is compiled voluntarily and is designed to give residents an easy-to-understand overview of the City's financial position. The information is pulled from the City's Comprehensive Annual Financial Report, which includes the audited statements and has more detailed information.

Both reports are online at www.palmcoastgov.com/government/finance/audit-report. Paper copies are available upon request at City Hall, 160 Lake Ave., Palm Coast.

The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, Illinois, and Washington, D.C.

For more information, contact Cindi Lane, Palm Coast communications and marketing manager, at 386-986-3708 and clane@palmcoastgov.com.