In my second inaugural address, I reaffirmed my commitment to sound fiscal management and being a responsible steward of taxpayer dollars. Demonstrating my administration’s commitment to this priority, our Finance team was recognized this week for their professionalism and excellence in financial reporting.
The Government Finance Officers Association of the United States and Canada (GFOA) presented the Certificate of Achievement for Excellence in Financial Reporting to the City of Jacksonville for our Comprehensive Annual Financial Report for the fiscal year that ended Sept. 30, 2019. The award is the highest form of recognition in governmental accounting and financial reporting, highlighting the importance of transparency and accountability.
I am incredibly proud of our team for this significant accomplishment, which joins a long list of achievements in fiscal responsibility, including the paydown of $462 million in municipal debt, avoiding $600 million in projected pension cost increases through retirement reform, saving over $200 million through refinancing existing debt at all-time-low rates, the bolstering of City reserves, and earning the first AAA rating on a tranche of bonds in the City’s history. This work is what has enabled us to strongly invest in community needs like public safety, economic and community development, neighborhood infrastructure, and COVID-19 response efforts without increasing the millage rate.
Our commitment to sound stewardship of taxpayer resources will continue in the years ahead, setting Jacksonville up for even greater success.