Wake Forest PAFR earns seventh consecutive financial reporting award

The Government Finance Officers Association (GFOA) has again named the Town of Wake Forest as the recipient of the GFOA’s Award for Outstanding Achievement in Popular Annual Financial Reporting for its Citizens’ Financial Report for the fiscal year ended June 30, 2023. This marks the seventh consecutive year the Town has garnered the award.

Valid for one year, 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 popular reports. To receive the honor, a government unit must publish a Citizens Financial Report or Popular Annual Financial Report (PAFR), whose contents conform to program standards of creativity, understandability, distribution methods, reader appeal and other elements.

The PAFR is prepared to inform Wake Forest residents about Town finances in a format that is easy to understand for those without a background in public finance or accounting. The document is designed for readers who would like to review financial and operational information in a summarized format. It also provides non-financial information to give users a better understanding of the community. To view the Town’s 2023 PAFR, visit http://bit.ly/WF_PAFR.

Assistant Town Manager/Chief Financial Officer Aileen Staples acknowledged the important role the PAFR designer plays in securing the award.

“Reader appeal and clarity are key areas in which the PAFR is rated, and that’s where our document excels,” said Staples. “(Graphic Designer) Michele Barnes did an excellent job presenting our financial and operational information in a visually appealing and interesting manner, and we sincerely appreciate her efforts.”

A professional association headquartered in Chicago, Illinois, the GFOA advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve. For more information, contact Finance Director Sam Sanchez at [email protected].