City recognized for its transparent financial reporting
October 2, 2021

KNOXVILLE - Make it 35 years in a row: For every budget cycle since the mid-1980s, the City of Knoxville’s Finance Department has been recognized for the clear communication and transparency of its annual financial reporting.

The Government Finance Officers Association (GFOA) has again awarded the Certificate of Achievement for Excellence in Financial Reporting to the City’s Finance Department, calling the award “the highest form of recognition” in governmental accounting and financial reporting.

Key to the City being honored is its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending June 30, 2020.

GFOA is a professional association that advances excellence in government finance by providing best practices, professional development and research for more than 21,000 members and the communities they serve.

Knoxville, according to GFOA, demonstrates a “constructive spirit of full disclosure to clearly communicate its financial story” through its CAFR.

Last summer, GFOA also awarded the City’s Finance Department a Distinguished Budget Presentation Award – the City’s 34th such award since 1986. That award “reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting,” according to GFOA.

“We’re proud of our long-running consecutive recognitions by our government finance peers, but really, the awards reflect our day-to-day culture and values,” Finance Director Susan Gennoe said. “We always strive to be open and responsive to Knoxville residents and to make it easy for everyone to understand the services being delivered and investments being made with their tax dollars.”