City Recognized for Excellence in Financial Reporting

The City of Albuquerque’s Department of Finance and Administrative Services (DFAS) has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its annual comprehensive financial report for fiscal year 2022. The City received the Certificate of Achievement every year since 2013, which is the highest award given by GFOA for governmental accounting.  

The City’s comprehensive financial report was recognized for meeting the high standards of GFOA, including demonstrating a "spirit of full disclosure" to accurately illustrate its financial story and encourage individuals and groups to read the report.  

"Finance and Administrative Services continues to set the bar high, and GFOA has recognized the City of Albuquerque with this distinguished award once again,” said Chief Financial Officer Sanjay Bhakta. “We are committed to fiscal transparency, and our team continues to work diligently to create comprehensive and timely reports.” 

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage state and local governments to go above the minimum requirements of accepted accounting principles. The GFOA recognizes governments that prepare annual comprehensive financial reports that are transparent and display full disclosure for their residents. 

The City of Albuquerque also holds a ‘AAA’ rating from Standard & Poor’s (S&P)—the highest rating assigned by S&P Global Ratings, meaning the City’s capacity to meet its financial obligations is extremely strong.