City of Sun Prairie Receives Major Recognition for Quality and Transparency in Financial Reporting

300 East Main Street
Sun Prairie, WI 53590-2227
Website: https://cityofsunprairie.com

FOR IMMEDIATE RELEASE – April 22, 2024
Jake King
Communications and Diversity Strategist
jking@cityofsunprairie.com
(608) 332-5397

City of Sun Prairie Receives Major Recognition for Quality and Transparency in Financial Reporting

The City of Sun Prairie continues to receive major recognition for its Annual Comprehensive Financial Report (ACFR) and Popular Annual Financial Report (PAFR) for fiscal year 2022. This marks the eighth year that the City has received the ACFR in Financial Reporting and the seventh year that the City has received the award for the PAFR.

The ACFR provides an in-depth analysis of the City's financial health, detailing its activities and balances for the fiscal year. Conversely, the PAFR offers a simplified overview of the annual financial report, making it accessible and understandable to the public and other stakeholders. Currently, the City is in the process of submitting its ACFR and PAFR for fiscal year 2023.

Receiving these awards for 2022 renews the City’s Triple Crown status with the GFOA. The Triple Crown designation places Sun Prairie amongst the top GFOA organizations in the U.S. and Canada. To qualify, an entity must meet the high standards of all three separate award programs: Distinguished Budget Presentation, Excellence in Financial Reporting, and Popular Annual Financial Reporting. This marks the City’s fifth year receiving this high honor. Nationwide, only approximately 330 entities receive the Triple Crown, representing less than two percent of the over 20,000 GFOA member organizations.

The City's finance department submits the ACFR and PAFR to the Government Financial Officers Association (GFOA) for evaluation. Submissions are carefully reviewed by members of the GFOA Special Review Committee and the GFOA Executive Board as part of the Certificate of Achievement for Excellence in Financial Reporting Program and the Popular Annual Financial Reporting Award Programs.

These programs commend state and local governments, regardless of size, for their exemplary financial reports that enhance transparency in financial management.

"We are committed to delivering financial documents that are not only accessible to the public but also clear and of the highest quality in presentation," said Kristin Vander Kooi, Finance Director. "This recognition underscores the dedication our division's staff put into creating exceptional financial reports and our commitment to financial transparency."

For more information and to review the City’s financial reports please visit https://www.cityofsunprairie.com/318/Financial-Statements.