Carrollton Three-peats Outstanding Financial Achievement Award

The City of Carrollton again received an Award for Outstanding Achievement in Popular Annual Financial Reporting for its Fiscal Year 2024 summary document.

The award, Carrollton's for the third year in a row, was given by the Government Finance Officers Association (GFOA) and is a prestigious national honor recognizing conformance with the highest standards for preparation of state and local government popular reports. GFOA considers the receipt of this award a significant City achievement.

In order to be eligible for the Outstanding Achievement award, a government agency must not only produce and submit its Popular Annual Financial Report (PAFR), but also its Annual Comprehensive Financial Report (ACFR) to GFOA. The ACFR must earn the Certificate of Achievement for Excellence in Financial Reporting for the same fiscal year, which Carrollton successfully did in October of 2025.

"We're very pleased to receive this award for the FY24 PAFR because we know we have engaged residents who will appreciate the wide range of financial information the document offers," Diana Vaughn, Chief Financial Officer, said. "The PAFR breaks down Carrollton's financial highlights like the General Fund balance, property and sales tax data, as well as additions to the City's capital assets. Staff and Council work hard to maintain Carrollton's strong financial position and this report summarizes the results of the past year for our residents."

Each eligible report is reviewed by judges who evaluate the project based on reader appeal, understandability, distribution methods, creativity, overall impression, and other elements. Reviewers especially noted areas of excellence in all five main categories where Carrollton's PAFR substantially met or exceeded requirements.

The judges stated Carrollton's submission is outstanding in appeal criteria, saying the report was well-designed and easy-to-read, the artwork innovative, and the photographs high quality. The financial data tables provide useful insight that allows readers to compare current and prior years, and the brief narratives make clear the financial state of the City. Judges said the digital distribution uses a wide range of distribution methods and maximizes reach. Overall, the report offers valuable information that helps readers learn more about the City, its community, and its financial trends.

The goal, Vaughn said, is to provide Carrollton citizens with a synopsis of how the City meets established financial standards and ideals. For the community to review a high-level, easy-to-read compilation of the City's budgetary and financial status is very important to maintaining transparency at the highest levels. Information in this report is guided by best practices established by the GFOA.

The financial data highlighted in Carrollton's PAFR is designed to provide a summary view of the City's financial activities for FY24. Information included in this report can be found in greater detail in the FY24 ACFR located at cityofcarrollton.com/accounting or by contacting the Finance Department by mail at 1945 E. Jackson Road or by phone at 972-466-3110. The financial report was prepared in accordance with Generally Accepted Accounting Principles (GAAP) and was audited by independent public accounting firm Forvis Mazars, L.L.P.

The City of Carrollton will publish its FY25 Popular Annual Financial Report by Wednesday, February 25, and a copy will also be available online for residents and stakeholders to review. The new PAFR will cover financial activities and business conducted throughout the 2024-2025 fiscal year.

To review the award-winning FY24 PAFR or the upcoming FY25 PAFR, visit cityofcarrollton.com/accounting.