Acting Cabinet Secretary Ross Taylor of the Department of Administration announced December 17th, that the state Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2011 has been awarded the Certificate of Achievement for Excellence in Financial Reporting. The Department’s Finance Division received this honor from the Government Finance Officers Association of the United States and Canada (GFOA).
Additionally, the state Board of Risk and Insurance Management (BRIM) qualified for a Certificate of Achievement for Excellence in Financial Reporting. This is the 17th consecutive year that the Finance Division and BRIM have achieved this recognition.
The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting and its attainment represents a significant accomplishment by a government agency and its management.
The comprehensive annual financial reports are judged by an impartial panel to meet the high standards of the program, including demonstrating a constructive “spirit of full disclosure” to clearly communicate the entity’s financial story and motivate potential users and user groups to read the CAFR.
“Fiscal assurances within state government provide the accountability and transparency that is necessary to ensure public trust,” said Cabinet Secretary Taylor. “We celebrate our 17th consecutive year of receiving this national recognition that applauds our fiscal representation of our state government. Our staff is to be commended for its commitment and dedication in showcasing financial reporting excellence.”
The GFOA is a nonprofit professional association serving approximately 17,500 finance professionals with offices in Chicago, IL and Washington, D.C.