Prestigious GFOA Award Recognizes High Standards and “Spirit of Full Disclosure.”
For the fourth year in a row, the Alameda County Transportation Commission (Alameda CTC) has received a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its Comprehensive Annual Financial Report (CAFR). The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
“This award is affirmation that Alameda County’s transportation sales tax dollars are in good hands,” says Alameda CTC Chair Rebecca Kaplan, Oakland City Councilmember At-Large. “It represents the good work, transparency and continued excellent stewardship of public funds by Alameda CTC, which in turn helps to ensure the delivery of critical projects and programs to Alameda County.”
Alameda CTC has a long history of exemplary financial management, with 100 percent clean audits since its inception in 2010. An Independent Watchdog Committee annually confirms that Measure B and Measure BB tax dollars were spent in accordance with the intent of the two measures.
“This award is thanks to the diligent work and leadership of Alameda CTC’s Deputy Executive Director of Finance and Administration Patricia Reavey,” says Alameda CTC Executive Director Arthur L. Dao. “I’m proud that Alameda CTC is recognized for making fiscal stewardship a top priority year in and year out. As a result, we have delivered tremendous benefits for the traveling public. In the last two years, we have delivered the I-580 Express Lanes, the I-80 SMART Corridor Project, and extension of the HOV lane on I-880, the East Bay Greenway, and the BART extension to South Fremont, and launched the Student Transit Pass Pilot Program.”
Alameda CTC’s CAFR for the year ended June 30, 2016 was 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. The GFOA is a nonprofit professional association serving nearly 19,000 government finance professionals.