Cabinet Secretary Robert W. Ferguson, Jr., announced October 28 that the state comprehensive annual financial report for the fiscal year ended June 30, 2010 has qualified for a 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) and the Public Employees Insurance Agency (PEIA) qualified for a Certificate of Achievement for Excellence in Financial Reporting. This is the 16th consecutive year that the Finance Division and BRIM have achieved this recognition and the 13th consecutive year for PEIA.
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 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.
“Accountability and fiscal responsibility are at the forefront of all decisions made regarding the state’s resources,” said Cabinet Secretary Ferguson. “We are extremely pleased to consistently achieve this national recognition, which showcases in a transparent and public manner the fiscal representation of our state government. Our staff is to be commended for their commitment and dedication in their financial reporting responsibilities.”
The GFOA is a nonprofit professional association serving approximately 17,500 finance professionals with offices in Chicago and Washington, D.C.