Tennessee Recognized for Excellence in Financial Reporting
NASHVILLE – Tennessee has received the highest form of recognition awarded for government accounting and financial reporting for its Annual Comprehensive Financial Report. The Government Finance Officers Association (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the Division of Accounts in the Department of Finance and Administration for the report on the fiscal year ending June 30, 2021.
“The state’s accounting division is an incredibly dedicated team that takes pride in preparing a detailed, accountable and transparent financial report,” F&A Commissioner Jim Bryson said. “Dozens of financial professionals in nearly every state department contribute to the accuracy, integrity and well-deserved respect given to the report each year, reassuring citizens of our commitment to stewardship of state resources.”
In earning the certificate, the report is 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 report. It’s the 42nd year the state has received the certificate, the most any state has achieved. Annual financial reports dating back to 1997 are available electronically on the state’s website.
The state’s Accounts division maintains a statewide structure and related policies and procedures to allow all branches of government to meet their reporting needs and assists all state agencies in the operations of the state accounting system.
The GFOA advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve.