WEST HARTFORD — Government Finance Officers Association of the United States and Canada has awarded the Certificate of Achievement for Excellence in Financial Reporting to Town of West Hartford for its comprehensive annual financial report for the fiscal year that ended June 30, 2019, according to an email from the town.
The CAFR has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
GFOA presented its award to Peter Privitera, director of financial services, Town of West Hartford. Sharing in this achievement is Lisa Newton, accounting manager, and all of West Hartford’s accounting staff.
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.