GFOA Awards CERS and KRS for Excellence in Financial Reporting

The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the County Employees Retirement System (CERS) and the Kentucky Retirement Systems (KRS) with the Certificate of Achievement for Excellence in Financial Reporting. This recognition for their Fiscal Year 2025 Annual Comprehensive Financial Reports highlights a significant milestone in governmental accounting and financial reporting, demonstrating robust financial management and transparency from the public sector entities involved.

Prepared by the staff at the Kentucky Public Pensions Authority (KPPA), these reports have earned accolades from the GFOA for 26 consecutive years. Erin Surratt, Deputy Executive Director of KPPA, acknowledged the intensive effort and meticulous attention to detail required to compile such comprehensive financial documentation, applauding her team for their ongoing commitment to outstanding financial reporting.

The GFOA is dedicated to enhancing government finance through best practices, professional development, and research resources, serving over 21,000 members. The reports from CERS and KRS were rigorously evaluated by an independent panel for compliance with full disclosure standards, effectively communicating financial narratives to stakeholders. These detailed reports can be accessed on the KPPA's website in the publications section.

As of June 30, 2025, the KPPA oversaw $29.8 billion in assets, managing pension and insurance obligations for state and local public employees, including those in hazardous duties and state police. The authority provides administration and investment oversight for over 444,000 individuals, including government employees, police officers, and certain university staff. Projections from the systems' actuary indicate these pension and insurance funds aim for full funding by Fiscal Year 2049.