Awards & Accolades
AA Credit Rating from S&P Global Ratings
S&P Global Ratings has raised its long-term rating on the City of Red Oak, Texas' limited-tax debt to 'AA' from 'AA-'. At the same time, assigning an 'AA' rating to the city's 2021 certificates of obligation and tax notes. The full S&P Ratings Report is available HERE.
Government Finance Officers Association - Certificate of Achievement for Excellence in Financial Reporting Award
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (COA) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.
The City has received this award since 2015 and will continue to participate in this program upon completion of the Comprehensive Annual Financial Report.
Government Finance Officers Association – Distinguished Budget Presentation Award
GFOA established the Distinguished Budget Presentation Awards Program (Budget Awards Program) in 1984 to encourage and assist state and local governments to prepare budget documents of the very highest quality that reflect both the guidelines established by the National Advisory Council on State and Local Budgeting and the GFOA's best practices on budgeting and then to recognize individual governments that succeed in achieving that goal. Over 1600 governments, including states, cities, counties, special districts, school districts, and more have been recognized for transparency in budgeting. To earn recognition, budget documents must meet program criteria and excel as a policy document, financial plan, operations guide, and communication tool.
The City has received this award since 2012 and will continue to participate in this program upon completion of the Fiscal Year Budget Document.