Albemarle receives financial reporting award

Published 9:07 am Thursday, November 20, 2025

ALBEMARLE — Albemarle’s finance department has been recognized for the quality of its reporting for the eighth consecutive year.

At the Albemarle City Council’s meeting on Monday night, the department was awarded with the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting.

The honor was given for Albemarle’s annual comprehensive report for the fiscal year that ended on June 30, 2024.

“It is the highest form of recognition in the area of governmental accounting and financial reporting,” said Jacob Weavil, Albemarle’s finance director. “Receiving the award demonstrates a constructive spirit of full disclosure that clearly communicates the city’s financial story. Since we have received the award eight years in a row, it might be easy to assume this as routine or guaranteed, but that is far from the truth.”

Weavil has served as the city’s full-time finance director since 2021 following a three-year stint as an assistant finance director.

“I’d like to sincerely thank my finance staff for their hard work and dedication,” Weavil said. “With everything we do relating to our policies and our procedures, they are all designed to ensure we keep receiving the award each year. I would also like to extend my gratitude to the rest of the city, including all departments, administration and council. We could not do what we do without your partnership and support.”

Founded in 1906, GFOA promotes government finance sustainability by providing practices, professional development, resource and practical research for over 21,000 members and their respective communities.

“The report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive spirit of full disclosure to clearly communicate its financial story and motivate potential users and user groups to read the report,” GFOA provided in a press release.

With five responsibilities shared between two divisions, Albemarle’s finance department is tasked with administration, accounting, financial reporting, treasury management and revenue collection.

Led by Weavil, the department’s first division is responsible for maintaining the accounting and reporting system, paying financial obligations, purchasing equipment, conducting the bidding process for all contracts, providing fiscal management for all city funds, preparing payroll and working with auditors in preparation of statements.

The department’s secondary division, led by Richard Lanzillotti, provides administrative and clerical services for the collections of all funds related to the city.

This category includes utility bills and related costs, water, sewer, street assessments, parking tickets, grant revenue, licenses, permits, tax revenue, parks and recreation admissions and landfill dumping fees.

Albemarle residents are encouraged to review the city’s current and past financial reports at albemarlenc.gov/departments/finance.

The Albemarle City Council will hold its next regular meeting on Dec. 1 at 6:30 p.m. in the City Hall Council Chambers.

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