State Receives Award 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, 2013.  The Division of Accounts in the Department of Finance & Administration (F&A) received the recognition, which is its 34rd certificate from GFOA for the state’s Comprehensive Annual Financial Report (CAFR).

“This achievement award is the highest form of recognition in the area of government accounting and financial reporting, signifying accomplishment by Tennessee and its management,” F&A Commissioner Larry Martin said. “The fact that we’ve been honored with this achievement almost three dozen times speaks to the high level of detail and perfection the state maintains in accounting for its financial position.

“The Division of Accounts is a dedicated accounting team that takes pride in preparing a transparent and award-winning financial report.” 

According to the GFOA, the CAFR for fiscal 2013 meets high standards and demonstrates a constructive “spirit of full disclosure” in communicating the state’s financial information. 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.