Popular Annual Financial Report (PAFR) Awards Program Government Finance Officers of Missouri October 11, 2017

What is a PAFR? Brief format Easily readable report Geared toward a target audience Uses simple language – avoids accounting jargon Uses data from Comprehensive Annual Financial Report (CAFR)

Why Publish a PAFR? To communicate the entity’s finances to ordinary citizens and others who are challenged by traditional reports. Use of graphs, charts and tables are a better means of communicating than traditional financial statement format. Focuses on the important information geared to target audience. Submission to GFOA who will provide constructive comments for improvement.

PAFR Award Program Once submitted, PAFR is reviewed by a panel of 4 reviewers. Feedback is provided to help improve future reports. PAFRs with scores of 75% or higher are granted the award.

Program Eligibility Must Publish a CAFR and submit it to GFOA for annual Certificate of Achievement award. Must receive CAFR award for that year’s report. PAFR must clearly advise readers of the availability to view the CAFR.

Program Eligibility If PAFR only contains information from selected funds from the CAFR, a description of the funds included and not included must be stated. Information contained in PAFR must be on a GAAP basis as contained in the CAFR.

Program Eligibility Narrative and graphic analysis must be provided.

GFOA Award Rating Criteria Point Value Reader Appeal 10.0% Understandability 25.0% Distribution 7.5% Other Overall Quality and Usefulness 50.0%

Rating Criteria Reader Appeal - 10% Report is short Format is logical Easy to read type Appealing type Photographs enhance

Rating Criteria Understandability - 25% Avoids Jargon Chart/graph enhance data Narrative highlight Trend information Minimizes misinterpreting

Rating Criteria Distribution – 7.5% Target Audience Mode

Rating Criteria Other – 7.5% Notable Achievement Innovative Useful to users Useful to Legislature Makes entity attractive

Suggestions Strive for: Avoid: Be Brief Graphs, Photos Creativity Positivity Define your audience Distribute to your audience Mix in new approaches Large documents that overwhelm Too much narrative Boilerplate, duplicated information Discussions of woe Irrelevant information Limited availability Same storyline year-after- year

Missouri Entities Receiving a GFOA PAFR Award 2016 Results - 2015 Fiscal Years Blue Springs Maryland Heights Clayton MOSERS Creve Coeur MSD Des Peres Richmond Heights Jefferson City Webster Groves Kansas City Wentzville Source: GFOA website: http://www.gfoa.org/2016-results-popular-annual-financial-reporting-award-program