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2019 - Homepage News Flash

Posted on: May 9, 2023

City’s 2021 Annual Comprehensive Financial Report honored

Annual Comprehensive Financial Report - homepage news

The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Hot Springs by the Government Finance Officers Association of the United States and Canada (GFOA) for the City’s 2021 Annual Comprehensive Financial Report for the fiscal year ending on December 31, 2021.

The 2021 Annual Comprehensive Financial Report is available at

The Certificate of Achievement, which the City has earned for 29 consecutive years, is the highest form of recognition in the area of governmental accounting and financial reporting, representing a significant accomplishment by a government and its management. The report was judged by an impartial panel to meet the program’s high standards, which include demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the report.

“The City of Hot Springs receiving the GFOA Annual Comprehensive Financial Report Award is the result of hard work and diligence by Finance Department employees who strive daily to accurately account for and report on the finances of the City,” said Karen Scott, director of the City’s Finance Department. “The department employees worked tirelessly to produce the 2021 ACFR, and I am so proud of this accomplishment. We are also so fortunate to work with the mayor, Board of Directors, the city manager and so many other City staff in our efforts to account for City funds and transactions in a professional and ethical manner.”

The Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 21,000 members and the communities they serve.

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