City Again Earns Government Finance Officers Association (GFOA) Triple Crown of Awards for Excellence in Financial Reporting

October 5, 2022

The City of Portsmouth has received Awards of Excellence from the Government Financial Officers Association for the Popular Annual Financial Report (5th year), Annual Comprehensive Financial Report (29th year) and the Budget Presentation. This is the second year in a row that Portsmouth’s Finance  Department has won the GFOA Triple Crown for winning all three reporting Excellence Awards and again Portsmouth is the only Triple Crown winner in NH and one of just two in New England (the other was Newport RI).

The GFOA awarded the Certificate of Achievement for Excellence in Financial Reporting for the Annual Comprehensive Financial Report (ACFR) for the year-ended June 30, 2021. This marks the City’s 29th time receiving this award which includes audited financial statements detailing the financial health of the City. In making the award, GFOA noted, “The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting. Its attainment represents a significant accomplishment by a government and its management.”

The GFOA also recognized the City for Outstanding Achievement in Popular Annual Financial Reporting for the Popular Annual Financial Report (PAFR) for the year ended June 30, 2021. The City started preparing the PAFR in FY16. This is the fifth time Portsmouth has received this award. The PAFR is a summarized report prepared specifically to help the average citizen better understand the City’s audited financial statements. The GFOA particularly noted the Finance Department’s narrative style in helping the community navigate the City’s financial and organizational operations.

The GFOA noted, “When a Certificate of Achievement is awarded to a government, an Award of Financial Reporting Achievement is also presented to the individuals or department responsible for the city’s having earned the Certificate.” The City’s Annual Comprehensive Financial Report and Popular Annual Financial Report are prepared following the end of each fiscal year under the guidance of the Director of Finance and Administration Judie Belanger.

“It is always an honor to receive the GFOA awards, year after year; and it is gratifying that the Finance Department team is recognized for their hard work and diligence,” said Belanger. “Receiving both of these awards means that the City’s financial reporting is successful on all levels. The awards mean we are upholding the highest standards among government finance officials across the country as well as providing useful information to the local community.”

“I congratulate Finance Director Belanger and the Finance Department for earning the GFOA Award of Excellence for the ACFR and PAFR financial reporting,” said City Manager Karen Conard. “These awards reaffirm our commitment to keeping our taxpayers informed about the City’s finances in a clear, factual, transparent and professional manner. Receiving this recognition from outside government finance peers who are comparing Portsmouth to municipalities nationwide, is a measure of the reputation the City has for careful financial management. I continue to be honored to be part of that proven process.”

The FY21 Popular Annual Financial Report and Annual Comprehensive Financial Report can be found on the Finance Department’s Documents page.