Chino Valley Receives Award for Excellence in Financial Reporting

The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the Town of Chino Valley for its Annual Comprehensive Financial Report for the fiscal year ended June 30, 2024. 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.

Image courtesy Town of Chino Valley

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

Mayor Armstrong commented on the strength of the Town’s financial team, led by Finance Director Katie Pehl: “We are fortunate to have a skilled financial team that places high value not only on financial integrity and stewardship, but also transparency and accountability to the public we serve. Katie and her team are always looking to tighten processes and find ways to present our financials in a comprehensive and user-friendly format. We are lucky to have her on our team.”

The award was received for the Town’s Annual Comprehensive Financial Report, commonly referred to as “ACFR.” The report is available, along with a myriad of other financial reports, on the Town’s website at www.chinoaz.net/Financial-Reports.

On this page, in addition to the ACFR, residents can find the Quarterly Financial Reports for the first three quarters of fiscal year FY24/25; the FY24-25 Annual Budget; past years’ ACFRs, and the PAFR or Popular Annual Financial Report, among others. The Quarterly Financial Reports and the PAFR are new additions to the Town’s financial reporting portfolio.

The PAFR condenses the 134-page ACFR down to 16 easy-to-digest pages with a community overview, key accomplishments, financial highlights, financial statements, and future outlook.

It’s not the award so much that I am proud of, but what it represents,” said Finance Director Katie Pehl. “Our Mayor and Council place a high value on accountability to our community. The rigorous criterion for this award means that an independent agency validates that we are meeting those goals for the highest standards in public financial reporting. We work hard to get and maintain the public trust.”

Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 25,000 members and the communities they serve.

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