Alameda CTC is Awarded Certificate for Excellence in Financial Reporting
May 12, 2014 at 12:38pm
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
Alameda CTC has been awarded 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) for the year ended June 30, 2013.
“This award represents a significant accomplishment by our agency thanks to the diligent work and leadership of Patricia Reavey, Alameda CTC’s director of finance,” says Alameda CTC Executive Director Arthur Dao. “In addition to the agency’s award, Ms. Reavey received an Award of Financial Reporting Achievement for the preparation of our award-winning CAFR.”
“This award comes on the heels of the Alameda County Transportation Commission Sales Tax Revenue Bonds (Limited Tax Bonds), Series 2014 being rated AAA by both Fitch Ratings and Standard and Poor’s ratings services, and their successful sale,” says Alameda CTC Chair Supervisor Scott Haggerty. “This is a banner year for Alameda CTC, demonstrating to voters that the agency continues to be an excellent steward of public funds.”
Alameda CTC’s CAFR 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 approximately 17,500 government finance professionals.