The City of Fair Oaks Ranch is excited to announce that the Government Finance Officers Association (GFOA) presented the City with its Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR Award).
Fair Oaks Ranch, Texas - The City of Fair Oaks Ranch is excited to announce that the Government Finance Officers Association (GFOA) presented the City with its Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR Award) for its Popular Annual Financial Report for the fiscal year ended September 30, 2021.
The Award represents a significant achievement by the City. To be eligible for the PAFR Award, the City was also required to submit its annual comprehensive financial report to GFOA’s Certificate of Achievement for Excellence in Financial Reporting Program and receive the Certificate. The City received the Certificate of Achievement for the 2020-2021 fiscal year on January 9, 2023. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
The City is excited to add the PAFR award to the growing list of accolades that its Finance Department has received, which include the aforementioned Certificate of Achievement for Excellence in Financial Reporting and its 2021 Distinguished Budget award. All three of the awards together make the City eligible for the Triple Crown, GFOA’s highest honor. The Triple Crown is a recognition of governmental finance departments that have received all three of GFOA’s highest recognitions which the City of Fair Oaks Ranch achieved this year with its newest PAFR Award.
The Government Finance Officers Association (GFOA) mentions that award recipients, including the City of Fair Oaks Ranch, have, “pioneered efforts to improve the quality of budgeting, and provide an excellent example for other governments throughout North America.” Last year, there were fewer than 320 Triple Crown winners throughout the United States and Canada which achieved Triple Crown status. The City of Fair Oaks Ranch is happy to be counted as a part of such a distinguished group and looks forward to continuing to openly and transparently communicate the City’s financial story and provide residents and leaders with the tools they need to keep Fair Oaks Ranch fiscally responsible.