The City of Gulf Shores is pleased to announce that the Finance & Administration Department has earned three awards from the Government Finance Officers Association (GFOA), qualifying the City as a Triple Crown Winner for the first time. The three awards received are as follows:
Distinguished Budget Presentation Award
For the 12th consecutive year, the City of Gulf Shores received the Distinguished Budget Presentation Award. This award represents a significant achievement as it reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. In order to receive the budget award, the City of Gulf Shores had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an entity's budget serves as a policy document, financial plan, operations guide, and communications device. Budget documents must be rated "proficient" in all four categories and in the fourteen mandatory criteria within those categories to receive the award.
Certificate of Achievement for Excellence in Financial Reporting
This is the 10th year the City of Gulf Shores has been awarded the Certificate of Achievement for Excellence in Financial Reporting for its annual comprehensive financial report. This Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
Outstanding Achievement in Popular Annual Financial Reporting (PAFR award)
This is the first year the City has been awarded the Outstanding Achievement in Popular Annual Financial Reporting (PAFR award). The City was notified that the Popular Annual Financial Report (PAFR) had substantially met the requirements of the PAFR Awards program. In order to be eligible for a PAFR award, a government must also submit its annual comprehensive financial reports to GFOA's Certificate of Achievement for Excellence in Financial Reporting Program and receive the Certificate for the current fiscal year. Each eligible report is reviewed by judges who evaluate the report based on the following categories: reader appeal, understandability, distribution methods, creativity, and other elements.
“It's not an accident that our City has an AA+ bond rating, it’s not an accident that we have seen an increase of over 300% in our cash reserves since 2010, and it's not an accident that as a City we continue to make responsible and effective budget decisions. It's a direct result of the hard work of our Finance & Administration Department, City Council Finance Committee, and all City Departments who diligently manage the budget on a daily basis, and we couldn't be more appreciative," said Mayor Robert Craft.
Click here to view current and past City of Gulf Shores annual budgets and financial reports.
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