Pima Community College has been recognized by two organizations for financial stewardship.
For the 29th consecutive year, the Certificate of Achievement for Excellence in Financial Reporting was awarded to the college by the Government Finance Officers Association of the United States and Canada for the college’s fiscal year 2020 Comprehensive Annual Financial Report. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
The Comprehensive Annual Financial Report was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.
Further, Moody’s Investors Service assigned to PCC an Issuer Rating of Aa2 and affirmed the existing Aa3 rating for the 2019 Series Revenue Bonds. The issuer level ratings are based on several factors such as the college’s operating performance, financial resources, liquidity, financial policy and strategy, market and industry profile.
“The Stable outlook issued by Moody’s is an affirmation of the college’s financial stewardship as we navigate the continued impacts of the COVID-19 pandemic,” said David Bea, executive vice chancellor for finance and administration. “The receipt of the GFOA award and the issuance of the ratings outlook confirm our commitment to accurate, transparent financial reporting and fiscal stability.”