Prairie Village recognized for excellence in financial reporting
(Chicago, Illinois)- The City of Prairie Village has earned two awards from the Government Finance Officers Association of the United States and Canada (GFOA) for excellence in financial reporting.
The Certificate of Achievement for Excellence in Financial Reporting was awarded to Prairie Village for its comprehensive annual financial report (CAFR) for the fiscal year ended December 31, 2017. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. This was the 29th time the City has earned the certificate of achievement.
Each year, the City of Prairie Village produces a CAFR that outlines the City’s financial position and operating activities and includes audited financial statements; however, due to its length and scope, city staff felt that the CAFR was not very user-friendly. Staff felt it was important to make the City’s financial information more accessible, so the Finance Department developed the Popular Annual Financial Report (PAFR). The PAFR includes a summary of City services, Statement of Net Position, revenues, expenditures, debt and an economic outlook.
GFOA presented Prairie Village with the Award for Outstanding Achievement in Popular Financial Reporting for the PAFR for the year ending December 31, 2017. This marked the sixth time Prairie Village has earned the award.