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April 28, 2011

 

DiNapoli: State Earns Industry Recognition for its Superior Financial Reporting for 22ND Consecutive Year


The Government Finance Officers Association of the United States and Canada (GFOA) awarded New York state with a Certificate of Achievement for Excellence in Financial Reporting for the 22nd consecutive year for the state's Comprehensive Annual Financial Report (CAFR), which is prepared by the Office of the State Comptroller, Comptroller Thomas P. DiNapoli announced today.

The State of New York also earned GFOA's Award for Outstanding Achievement in Popular Annual Financial Reporting for the 2010 Financial Condition Report, which is also prepared by the Comptroller's office each year.

"When I took office four years ago, I asked my staff to develop ways to increase transparency in state government operations," DiNapoli said. "Through our Open Book New York website, enhanced disclosure of the state pension fund's transactions and our numerous reports on the state's finances, we are making government more understandable and accessible to the public. The Government Finance Officers Association's recognition of our efforts demonstrates we are a peer leader in the area of openness in government."

The Certificate of Achievement is the highest form of recognition in government accounting and financial reporting. An impartial panel determined the CAFR met the high standards of the program including demonstrating a constructive "spirit of full disclosure."

The CAFR contains an audited breakdown of the state's finances. The Financial Condition Report provides the public with an easy-to-understand overview of the fiscal situation of the state.


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