City's Popular Annual Financial Report Receives National Award

Recently, the City of Lake Forest was notified by the Government Finance Officers Association (GFOA) that the City’s FY21 Popular Annual Financial Report (PAFR) received the GFOA’s PAFR Award.

The GFOA established the Popular Annual Financial Reporting Awards Program in 1991 to encourage and assist state and local governments to extract information from their annual comprehensive financial report to produce high-quality popular annual financial reports specifically designed to be readily accessible and easily understandable to the general public without a background in public finance and then to recognize individual governments that are successful in achieving that goal.

Successfully achieving this award now also puts the City in a very exclusive club as a GFOA “Triple Crown” winner. This designation is for governmental units that have been awarded the GFOA Certificate of Achievement for Excellence in Financial Reporting, the GFOA Distinguished Budget Presentation award, and the GFOA PAFR Award. 

  • The City has earned the GFOA Financial Reporting Award 43 consecutive years.
  • The City has earned the GFOA Budget Presentation Award for 7 consecutive years.
  • The City received the GFOA PAFR award for the first time on its initial submittal to the program.

According to the US Census Bureau, there are more than 89,000 units of government in the US. Lake Forest is now one of only 293 units of government in the United States to currently hold “GFOA Triple Crown” recognition! 

A special thank you to the Finance Department Team for the excellent work they do each day and that allows for the City to be so successful in achieving these national recognitions.

View the award-winning Popular Annual Financial Report

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