The City of Wichita Department of Finance was recognized on Tuesday, June 10, for receiving three achievement awards for financial reporting. Mayor Carl Brewer praised City Manager Robert Layton and Finance staff for financial reporting excellence and transparency.
“You’re all providing outstanding service to our residents,” Mayor Brewer said.
The department received the “Certificate of Achievement for Excellence in Financial Reporting” from the Government Finance Officers Association (GFOA) for the City’s 2012 Comprehensive Annual Financial Report (CAFR). It marked the 40th consecutive year the City has won the award, more than any other city in the state. Also, for the 14th straight year the department was recognized for the Wichita Retirement System’s 2012 Comprehensive Annual Financial Report. The City also received the Award for Outstanding Achievement for the 2012 Popular Annual Financial Report (4th consecutive year). The three awards are the highest form of recognition in the area of governmental accounting and financial reporting. The awards are based upon evaluation by an impartial panel of accounting professionals for satisfying the highest standards of the program, including demonstrating a constructive “spirit of full disclosure” to clearly communicate the entity’s financial story.
There are 18,443 U.S. municipalities; 1,913 received the Achievement Award for their CAFR, including only 25 cities in Kansas. Additionally, only 171 public pension systems received the GFOA Achievement Award.