The City of New Albany is proud to announce that for the 20th year in a row, it has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA). In addition, this esteemed award recognizes the City’s 2023 Annual Comprehensive Financial Report, marking an ongoing commitment to transparency and financial excellence.

Why This Award Matters

Receiving the Certificate of Achievement for Excellence in Financial Reporting is the highest recognition in governmental accounting and financial reporting. Consequentially, this award plays a critical role in ensuring that New Albany is recognized for its dedication to financial responsibility. However, what does this award mean for New Albany and its residents?

Additionally, the City’s commitment to strong financial management and transparency plays a critical role in maintaining our AAA rating from Moody’s. Not only have we received this rating from Moody’s, but we’ve also received an AAA rating from Standard & Poor’s—the highest ratings possible. These exceptional ratings contribute directly to lower borrowing costs, allowing the City to save on interest for debt issuances and keep project costs down. Overall, these savings help ensure efficient use of taxpayer dollars and make it easier to fund other important community priorities.

Celebrating the Finance Department’s Success

This prestigious recognition wouldn’t be possible without the tireless efforts of our finance department, which has continuously ensured that New Albany’s financial practices align with the highest standards. Their dedication is a significant factor in New Albany’s ongoing success in fiscal management and transparency.

Once again, congratulations to the finance department for this outstanding achievement!

Looking Ahead

Lastly, as New Albany continues to grow and thrive, the City remains committed to maintaining the highest standards of financial integrity and accountability. This award underscores our dedication to effective financial management, which is key to supporting community projects, local services, and the ongoing well-being of our residents.