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CITY WINS NATIONAL FINANCIAL REPORTING AWARDS

The Government Finance Officers Association of the United States and Canada (GFOA) has again awarded the City and County of Honolulu two honors: a Distinguished Budget Presentation Award and a Certificate of Achievement for Excellence in Financial Reporting. 

The GFOA is a non-profit organization that serves 17,000 government finance professionals throughout North America.

            This year marked the 21st time in the past 22 years that Honolulu has been recognized by the GFOA for its outstanding governmental accounting and financial reporting.  

            The budget award was based on how well the City’s budget served as a policy document, financial plan, operations guide, and communications tool.  The budget had to be highly rated in all four categories to be recognized.

            The financial reporting award was for Honolulu’s Fiscal Year 2007 Comprehensive Annual Financial Report (CAFR).  It was 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 the public to read the CAFR. 

            Director of Budget and Fiscal Services Mary Pat Waterhouse said, “Mayor Hannemann set as a priority a commitment to making our City finances transparent.  These awards symbolize our accomplishment at meeting that goal.  They are recognition that our annual budget and financial report meet gold standards in providing the public information about the City’s finances.”

            Mayor Mufi Hannemann congratulated Waterhouse and her staff in saying, “These awards indicate the truly great work of the employees in the Department of Budget and Fiscal Services.  I’m proud that their team effort has produced such outstanding documents.”

Contact:

Mary Pat Waterhouse, 768-3901

Tuesday, August 26, 2008

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