For the 34th consecutive year, the City of Knoxville’s Finance Department has been recognized for the transparency and clear communication of its annual financial reporting.

The Government Finance Officers Association (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the City’s Finance Department – specifically, lauding its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending June 30, 2019.

Here is a link to that report: https://bit.ly/35NGHlB

GFOA is a professional association that advances excellence in government finance by providing best practices, professional development and research for more than 21,000 members and the communities they serve.

GFOA touts the award as the “highest form of recognition in governmental accounting and financial reporting,” adding that “its attainment represents a significant accomplishment by a government and its management.”

Knoxville, according to GFOA, demonstrates a “constructive spirit of full disclosure to clearly communicate its financial story” through its CAFR.

Finance Director Susan Gennoe credits her staff for the City’s unbroken string of 34 GFOA awards.

“We strive always to be open and responsive to Knoxville residents,” she said. “A big part of serving the public is clearly communicating details regarding the City’s financial condition.”

The City is in very strong financial shape, Gennoe said. The General Fund balance is $76.4 million, and the City’s bond rating – assigned by Fitch, Moody’s and Standard & Poor’s – is at its highest level ever.