The City of Delaware has received the Government Finance Officers Association (GFOA)’s Triple Crown Award for the first time in its history, marking a significant milestone for its finance team.
In order to receive the Triple Crown Award, a government must have earned the GFOA’s Certificate of Achievement for Excellence in Financial Reporting, the Popular Annual Financial Reporting Award, and the Distinguished Budget Presentation Award within the same fiscal year.
According to the GFOA website, the Certificate of Achievement for Excellence in Financial Reporting recognizes governments that achieve the goal of preparing annual comprehensive financial reports that show transparency and full disclosure.
Governments receiving the Popular Annual Financial Reporting Award are honored for extracting 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 public and other interested parties.
The Distinguished Budget Presentation Award recognizes governments that prepare budget documents of the very highest quality that reflect both the guidelines established by the National Advisory Council on State and Local Budgeting and the GFOA’s best practices.
“The Triple Crown designation for 2021 reporting represents a significant achievement in meeting the high standards of all three separate award programs for producing reports that communicate their financial stories in a transparent manner and meet applicable standards,” the GFOA said in a press release.
Delaware Director of Finance Rob Alger said in the release, “Our team is very proud to have been awarded the Triple Crown. This award highlights the ongoing efforts of the entire Finance Department to increase transparency and provide meaningful resources to residents about the financial position of their government.”
Alycia Ballone, the director of budget, management, and procurement, said the recognition reflects Delaware’s goals of transparency and quality in financial reporting. “Transparency is critical for our residents so they can better understand where the city receives revenues and how those funds are spent,” she added.
Delaware is one of just eight Ohio municipalities to receive the Triple Crown Award for 2021, four of which are in central Ohio. The other central Ohio governments to receive the award are Columbus, Dublin and Upper Arlington.
Reach Dillon Davis at 740-413-0904. Follow him on Twitter @DillonDavis56.
Delaware earns Triple Crown Award