Pension System Recognized for Financial Reporting

Communications Director

Kristin Farley
[email protected]
(865) 215-2589

400 Main St., Room 691
Knoxville, TN 37902

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Pension System Recognized for Financial Reporting

Posted: 07/12/2019
For a seventh consecutive year, the City of Knoxville pension system staff has been awarded a Certificate of Achievement for Excellence in Financial Reporting by a leading professional association.

The Government Finance Officers Association of the United States and Canada recognized the City’s pension system and its 2018 Comprehensive Annual Financial Report (CAFR).

“The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management,” according to GFOA.

An impartial panel judged the City pension system’s CAFR to meet high standards, including “demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.”

The pension staff also won a recent award for transparency from the National Conference on Public Employee Retirement Systems. Kristi Paczkowski, Executive Director of the City of Knoxville pension system, said both the CAFR and the annual actuarial reports are posted on system’s website,

“We want to be as transparent as possible,” Paczkowski said. “We want to be diligent and do everything that’s required, but we also post additional information that goes beyond what is required. Reports are complicated. They include a lot of detail on investments, and we want employees and retirees to be able to see all that information.”