Tuesday, May 23, 2017 1:58 pm
Indiana gets financial reporting award for 24th straight year
Niki Kelly | The Journal Gazette
INDIANAPOLIS -- State Auditor Tera Klutz announced Tuesday that Indiana has received the highest award for financial reporting from the Government Finance Officers Association for the 24th year in a row.
The group awarded Indiana the Certificate of Achievement for Excellence in Financial Reporting for the state's 2016 comprehensive annual financial report. The report is for any given fiscal year and is prepared by the Auditor's office and audited by the State Board of Accounts. It details accurate and in-depth information about the state's financial situation and accounts for all of Indiana's funds.
“Being recognized with this prestigious award every year since 1993 is what happens when public officials focus on excellent government service, transparency and efficiency,” Klutz said. “This recognition tells Hoosiers that their government is committed to transparent and honest accounting, and that's what I intend to focus on throughout my time as Auditor -- great government service for the taxpayer centered on transparency and integrity.”
She added that the state's annual financial report is one of the main components used by the nationally recognized statistical rating organizations to review and analyze Indiana's financial situation and assign a credit rating. The state's credit currently has a AAA rating, which means lower costs for borrowing and that Indiana's financial health is strong.
In order to be awarded a Certificate of Achievement by the association, a government must publish an easily readable and efficiently organized report that satisfies both generally accepted accounting principles and applicable legal requirements.