City of Pittsburg receives financial award
City Press Releases
December 6, 2018
PITTSBURG, KS – The Government Finance Officers Association (GFOA) has awarded the City of Pittsburg a Certificate of Achievement for Excellence in Financial Reporting for the 2017 fiscal year. This makes 21 consecutive years Pittsburg has received the award.
The program acknowledges state and local governments that go beyond the minimum requirements of generally accepted accounting principles to prepare a Comprehensive Annual Financial Report (CAFR). Pittsburg is one of only 26 Kansas municipalities to receive the award for 2017.
The City’s CAFR is produced to provide members of the City Commission, City staff and the public with information about the City’s financial stability. According to City of Pittsburg Director of Finance Jamie Clarkson, the annual report is also a useful tool to those outside the Pittsburg community.
“The Comprehensive Annual Financial Report is a picture of the community’s financial health,” says Clarkson. “It’s used by companies looking to relocate to our community, as well as bond-rating agencies that assess a city’s creditworthiness.”
The City of Pittsburg’s bond rating was recently upgraded from A+ to AA- by Standard and Poor’s in 2015, and was reaffirmed in 2016. The CAFR is another way the City demonstrates transparency in its operations.
“This shows we are practicing sound, financial management,” said Clarkson.
The City of Pittsburg Comprehensive Annual Financial Report is submitted and reviewed each year by the GFOA Special Review Committee, which is comprised of select members of GFOA professional staff, experts in public sector financial reporting, academics and independent auditors.
The City’s annual financial report is available on the City of Pittsburg website, www.pittks.org.