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Posted on: January 28, 2021

City of New Braunfels Receives Two Awards Recognizing Excellence in Financial Reporting

The City of New Braunfels was recently recognized with two awards from the Government Finance Officers Association of the United States and Canada

(GFOA), an organization which advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve.  

The City of New Braunfels was awarded the GFOA’s Certificate of Achievement for Excellence in Financial Reporting for the city’s Comprehensive Annual Financial Report (CAFR) submitted at the end of the 2019 fiscal year.  This is the 12th consecutive year that New Braunfels has received this award, which is the organization’s highest form of recognition in the area of governmental accounting and financial reporting. 

GFOA also recognized the City of New Braunfels with its Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR award).  This is the first year that New Braunfels has produced this report and applied for this recognition.  To be eligible, a government must first receive the Excellence in Financial Reporting Award for the CAFR.  The PAFR is then reviewed by judges who look at several categories including reader appeal, understandability, distribution methods, and creativity.

“We are excited to have been awarded the Excellence in Financial Reporting for the 12th consecutive year. However, the award for the Popular Annual Financial Report is something that we are exceptionally proud of. As a team, we felt that creating that report was a worthwhile addition to our annual efforts to increase transparency and better illustrate the fiscal performance of this organization.  We are very pleased to have that work recognized by the GFOA,” said Chief Financial Officer Jared Werner.

The city’s Comprehensive Annual Financial Report was judged by an impartial panel and recognizes New Braunfels for meeting the high standards of the GFOA program.  Those standards include demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate the city’s financial story and motivating potential users and user groups to read the report.  To view the City of New Braunfels Comprehensive Financial Report, as well as many other financial resources prepared by the department, please visit www.nbtexas.org/finance.

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