Phoenix Earns Triple Crown Award for Excellence in Financial Reporting

The City of Phoenix has been recognized with the Government Finance Officers Association’s (GFOA) Triple Crown Award for the fiscal year ending 2024—an accomplishment achieved by only 441 governments across the United States and Canada, representing less than one percent of all eligible governments.

The Triple Crown honors governments that earn all three of GFOA’s premier awards in a single year: the Certificate of Achievement for Excellence in Financial Reporting, the Popular Annual Financial Reporting Award, and the Distinguished Budget Presentation Award. Together, these distinctions reflect a government’s ability to meet rigorous national criteria for accuracy, transparency, accountability, and accessible public communication.

“This achievement reflects the strong financial stewardship and dedication of our Budget and Research and Finance teams,” said City Manager Ed Zuercher. “Delivering clear, accessible, and high‑quality financial information is essential to maintaining public trust, and I’m proud of the collaborative effort that earned Phoenix this national recognition.”

Each of the three award components represents a different dimension of public financial stewardship:

• Annual Comprehensive Financial Report (ACFR): The City’s full, audited financial report. It provides a detailed look at Phoenix’s financial position: what the City owns, owes, earns, and spends; and is built to national accounting standards requiring clarity and completeness. It serves auditors, analysts, policymakers, and residents seeking the full financial picture.
• Popular Annual Financial Report (PAFR): A resident‑friendly summary of the City’s finances. It explains, in plain language, where money comes from, how it’s allocated, and how Phoenix’s overall financial health is trending. It is designed specifically to make complex financial information approachable for the everyday reader.
• Distinguished Budget Presentation Award: This award recognizes the clarity and quality of the City’s budget book—the financial and policy roadmap for delivering core services such as public safety, parks, streets, libraries, water, and housing. To earn the award, the budget must clearly communicate strategic priorities, spending plans, and expected public impacts under stringent national evaluation standards.

Collectively, these recognitions show Phoenix’s strength in both technical financial reporting and clear public communication, ensuring residents can understand how their government manages public resources.