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Alabama recognized for excellence in financial reporting


November 30, 2010

MONTGOMERY – For the twelfth consecutive year, Alabama’s Comprehensive Annual Financial Report (CAFR) is being recognized by the Government Finance Officers Association of the United States and Canada (GFOA). The recognition comes in the form of GFOA’s Certificate of Achievement for Excellence in Financial Reporting, which is the highest form of recognition in the area of governmental accounting and financial reporting.

 

According to GFOA, it established this recognition program in 1945 to encourage governments to go beyond the minimum requirements of generally accepted accounting principles when preparing their comprehensive annual financial reports. Alabama’s recognition demonstrates it has met GFOA’s high standards in a “spirit of transparency and full disclosure.”

 

The CAFR contains the state’s basic financial statements, principal sources and distribution of revenues, expenditures and assets, as well as other pertinent state financial information. Alabama’s latest award-winning CAFR may be viewed online at http://comptroller.alabama.gov/pdfs/CAFR/cafr.2009.pdf.

 

The CAFR is produced by the Financial Reporting section and the Division of Controls and Accounts in the State Comptroller’s Office, Department of Finance.

 

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