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FOR IMMEDIATE RELEASE
THURSDAY, JULY 11, 2013
 
CONTACT: LOLA POTTER
615.532.8560 (OFFICE)

TENNESSEE NOTED FOR FINANCIAL REPORTING

NASHVILLE - Tennessee is recognized by a national government financial group for excellence in financial reporting. The Government Finance Officers Association (GFOA) awarded the state its "Certificate of Achievement for Excellence in Financial Reporting" for the state´s annual financial report for the fiscal year that ended June 30, 2012. The Division of Accounts in the Department of Finance & Administration (F&A) received the recognition, which is its 33rd certificate from GFOA for the state´s Comprehensive Annual Financial Report (CAFR).

"Closing the state´s financial year requires detailed analysis and disclosure in order to meet national standards," F&A Commissioner Larry Martin said. "The award is the highest form of recognition in governmental accounting and financial reporting, and represents a significant accomplishment by the state."

According to the GFOA, the CAFR for fiscal 2012 demonstrated a "constructive ´spirit of full disclosure´ to clearly communicate its financial story." The CAFR is prepared by F&A as a part of its responsibility to maintain a system of general accounts reflecting all the financial transactions of state government (TCA 4-3-1007).

CAFR reports dating back to 1997 are available electronically on the state´s website at http://www.tn.gov/finance/act/cafr.shtml.

The GFOA (www.gfoa.org) is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL and Washington, DC.