GFOA's popular reporting awards program: revised and improved.

• Author: Allison, Gregory S.
• Position: Government Finance Officers Association

Most public finance officers are familiar with the comprehensive annual financial report (CAFR), but not so widely understood is the concept of the popular report, which differs from the CAFR in many respects. The CAFR includes detailed financial information presented in a variety of formats, as well as additional information that provides a comprehensive view of the government's financial status. The majority of the CAFR is technical in nature, with the exception of the letter of transmittal, which represents management's perspective on the status of their finances, economic outlook, and other pertinent issues. The CAFR includes financial statements and schedules prepared and presented in accordance with generally accepted accounting principles (GAAP). The statistical section, while not presented in accordance with GAAP, still provides detailed financial data in the form of trend analysis. While the CAFR is available to everyone and should be prepared for the benefit of a variety of users, it is not always easily usable by those unfamiliar with governmental accounting.

More and more governments, in addition to preparing excellent CAFRs, have begun to experiment and actually produce popular reports. How does a so-called popular report differ from a CAFR? Popular reports, often used for public relations purposes, typically are designed to provide citizens and other interested users with easily understood information on a government's finances and economic condition.

A significant portion of the data contained in a popular report is usually derived from the CAFR. Many entities' popular reports, however, include information on services, goals and objectives, departmental activities, and other information not necessarily financial in nature. There is no particular reporting format prescribed for popular reports, and accordingly there are many diverse styles of reports available. Popular reports can take the form of typical glossies (i.e., colorful, artistic reports, and pamphlets), calendars, newspapers, and even videos.

In June 1991, the Government Finance Officers Association (GFOA) began a popular annual financial reporting (PAFR) program, designed to recognize outstanding achievement in popular reporting. The competition was formidable, and several winners were recognized each year. In 1991, there were 38 submissions, four of which received the PAFR award. In both 1992 and 1993, there were 26 submissions and three winners in each year.

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