FOR IMMEDIATE RELEASE                                     April 14, 2006

Release M-45-06

CITY WINS NATIONAL FINANCIAL REPORTING HONOR

            The City has received the prestigious Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association. 

            “This national award from such a universally respected professional organization, and the fact that Honolulu has received it 19 times in the past 20 years, is a testament to the continuing excellence of the many employees in our Department of Budget and Fiscal Services,” said Mayor Mufi Hannemann. “It’s a testament to their hard work and high standards.”

            The certificate was awarded for the comprehensive annual financial report prepared by the Department of Budget and Fiscal Services for the fiscal year that ended June 30, 2005. The report was judged by an impartial panel against the association’s high standards, which include demonstrating a “constructive spirit of full disclosure to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.”

             According to the association, “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 Government Finance Officers Association of the United States and Canada is a nonprofit organization that serves 16,000 government finance professionals.

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Contact:

            Mark Matsunaga, 527-5767

            Bill Brennan, 527-6928