|FOR IMMEDIATE RELEASE
THURSDAY, JULY 11, 2013
CONTACT: LOLA POTTER
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.