CHARLESTON, W.Va. – Cabinet Secretary Allan McVey of the Department of Administration announced today that the Government Finance Officers Association of the United States and Canada (GFOA) has recognized several agencies within the Department for excellence in financial reporting.
The Certificate of Achievement for Excellence in Financial Reporting was awarded by the GFOA to the Consolidated Public Retirement Board (CPRB) and the West Virginia Board of Risk and Insurance Management (BRIM). The Finance Division also received this award for its work completed on behalf of the state of West Virginia. Each agency submitted an application based on its comprehensive annual financial report (CAFR) for the fiscal year ending June 30, 2019. In offering this prestigious national award, the GFOA recognizes the highest level of conformance in the area of governmental accounting and financial reporting, and obtaining the award represents a significant accomplishment by a government and its management.
This is the 25th year of receiving this honor for BRIM and the Finance Division and the eighth year for CPRB. The CAFR is judged by an impartial panel to meet the high standards of the program, including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users to read the CAFR.
“Receiving this recognition means so much for the Department of Adminjstration and the state as a whole,” said Secretary McVey. “These comprehensive annual financial reports showcase the state’s financial picture and forecast for future years, and this acknowledgement confirms that the internal financial controls and assurances that are in place within state government are working. The result is a high level of accountability and transparency to our citizens.”
The GFOA is a major professional association servicing the needs of nearly 19,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management.