Agency Wins Award For Finance Reporting

Press Releases
08/15/2011

Honored For Excellence and “Comprehensive” Record-keeping

AC Transit has been honored for “excellence” by the Government Finance Officers Association (GFOA), an organization nationally renowned for promoting the best practices, competence and effectiveness in government finance.

For the third year in a row, AC Transit has been given a Certificate of Achievement for Excellence in Financial Reporting for producing a “comprehensive annual financial report (CAFR.).” The award is the highest form of recognition in the area of government accounting and financial reporting, and is considered a significant accomplishment by a government agency and its financial manager.

The agency’s CAFR has been 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 potential users and user groups to read the CAFR.”

“As a public agency, we are very proud of this honor as it demonstrates how hard we work to produce information that is concise and yet easily understood and readily accessible,’’ said AC Transit’s Interim General Manager Mary King. “Transparency is important to us so we endeavor to be as open as possible. This award validates our efforts and suggests that we are doing things right.”

AC Transit has won the award repeatedly since 2008 under the direction of Chief Financial Officer Lewis Clinton.  Clinton has been primarily responsible for preparing the award-winning CAFR, and fostering sound financial management with regard to excellent record-keeping.

The GFOA is a nonprofit professional association serving approximately 17, 500 government finance professionals with offices in Chicago, IL; and Washington, D.C.

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