The City of Newport News has received several national awards for its financial reporting practices. The Government Finance Officers Association of the United States and Canada (GFOA) presented the city with the Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report covering the fiscal year ending June 30, 2024.
“This achievement reflects not only the technical excellence of our Finance Department but also how our financial practices are intentionally aligned with the city’s strategic priorities,” said City Manager Alan K. Archer. “Transparent and responsible financial management supports every aspect of our long-term vision—whether it’s economic development, infrastructure investment, or community well-being.”
The Certificate of Achievement is considered the highest recognition in governmental accounting and financial reporting. It highlights Newport News’ efforts to uphold transparency, accountability, and integrity in its financial operations.
The city’s Department of Finance was also recognized with the Award of Financial Reporting Achievement (AFRA), which acknowledges those primarily responsible for preparing the award-winning report.
Additionally, Newport News earned the Award for Outstanding Achievement in Popular Annual Financial Reporting for its Popular Annual Financial Report (PAFR). This report is designed to present complex financial data in a way that is easy for residents and others to understand.
The Distinguished Budget Presentation Award was given to Newport News for its Fiscal Year 2025 budget document. This award recognizes high standards in budgeting processes and effective communication of financial plans.
Furthermore, both the Newport News Employees’ Retirement Fund and the Other Post Employment Benefits (OPEB) Fund were awarded Certificates of Achievement for Excellence in Financial Reporting based on their annual reports. These recognitions further illustrate Newport News’ focus on sound financial stewardship.
