CITY OF NEW BERN RECEIVES INTERNATIONAL AWARD FOR FINANCIAL EXCELLENCE

Award will be presented at the September 9^th Board of Aldermen meeting

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 New Bern for its annual comprehensive financial report. This is the third consecutive year the City’s finance department has achieved this award since 2018.

The City was informed of the award late last month when the GFOA mailed a letter to Mayor Jeffrey Odham. The letter encouraged the City to arrange for a formal presentation of the certificate recognizing staff, the finance department and the City for this achievement. That presentation will take place at the Tuesday, September 9th Board of Aldermen meeting at 6pm at City Hall, located at 300 Pollock Street.

“This award recognizes the City’s transparency in budgeting and financial reporting and our commitment to maintaining the highest standards of fiscal responsibility,” said Mayor Odham. “Congratulations to our finance team for their hard work.”  The award was given for the annual report for the fiscal year ending June 30, 2024.

New Bern’s Annual Comprehensive Financial Report 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 report. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and achieving this award represents a significant accomplishment by a government and its management.

The Annual Comprehensive Financial Report can be found on our website here.

You may recall, the City achieved a historic first for fiscal year 2022 - the Triple Crown award. The crown title signifies that the department has been awarded three of GFOA’s prestigious awards in a single year: the Certificate of Achievement for Excellence in Financial Reporting, the Popular Annual Financial Reporting Award (PAFR), and the Distinguished Budget Presentation Award. The City also achieved the Triple Crown Award for fiscal year 2023 and plans to try again for this prestigious honor for fiscal year 2024. The Triple Crown Award is typically announced 12-18 months after the closing of the fiscal year.

According to their website, the Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 25,000 members and the communities they serve. Find more information about the GFOA by visiting https://www.gfoa.org/.