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Yuma earns prestigious GFOA Triple Crown for financial excellence

June 26, 2024 | Yuma, Yuma County, Arizona



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This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

Yuma earns prestigious GFOA Triple Crown for financial excellence
The city of Yuma has achieved a significant milestone by being recognized as a GFOA Triple Crown winner, an honor awarded by the Government Finance Officers Association (GFOA) for excellence in financial reporting and budget presentation. This prestigious accolade is granted to municipalities that receive all three GFOA awards in a single year, and Yuma is among only 12 municipalities in Arizona and 356 nationwide to achieve this status.

This year marks the first time Yuma has received the Triple Crown, reflecting the city’s commitment to high standards in financial management. The awards include the Comprehensive Annual Financial Report (CAFR), which Yuma has won for 41 consecutive years, the Budget Award, received for 19 years, and the newly introduced Popular Annual Financial Report (PAFR), which the city has earned for the first time this year. The GFOA awards symbolize a dedication to transparency and accountability in government finance.

During the meeting, city officials expressed pride in this achievement, emphasizing the collaborative effort of the city council, administration, and various departments in reaching these high standards. The recognition coincides with Yuma's 110th anniversary, highlighting the city's long-standing tradition of excellence in financial reporting.

In addition to the financial accolades, the Yuma Police Department presented its annual report, showcasing the department's commitment to training and community safety. Police Chief Thomas Gearty highlighted that officers undergo over 100 hours of training annually, significantly exceeding the state requirement of 12 hours. The department's budget has increased by $2 million, primarily for salaries and operational costs, reflecting the ongoing challenges posed by rising expenses.

The report also detailed the department's efforts in securing grants to enhance public safety, including funding for DUI enforcement, equipment upgrades, and initiatives to combat human trafficking. The police department is actively working to improve its demographic representation and is focused on recruiting local talent to better serve the community.

Overall, the meeting underscored Yuma's dedication to financial integrity and public safety, marking a pivotal moment in the city's governance and community engagement efforts.

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