August 7, 2006 Contact: Sue Baker
For Immediate Release 738-2000, ext. 6205
National organization lauds Finance, Treasury departments
WARWICK – Mayor Scott Avedisian announced today that – for the third consecutive year – the Government Finance Office rs Association of the United States and Canada (GFOA) has awarded the city’s Finance and Treasury departments its Certificate of Achievement for Excellence in Financial Reporting. The award was given for the city’s comprehensive annual financial report (CAFR).
GFOA said that the city’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.” The certificate is the highest form of recognition in the area of governmental accounting and financial reporting, and “its attainment represents a significant accomplishment by a government and its management,” according to a letter GFOA director Stephen J. Gauthier sent to Avedisian.
“I congratulate the members of our Finance and Treasury departments for earning this honor,” Avedisian said. “It is gratifying that these hardworking individuals continue to be recognized for their diligence, attention to detail and careful stewardship of our city’s finances.”
“The staff of the Finance and Treasury departments continue to work at their highest potential, resulting in this honor being awarded to the City for the third year in a row,” said City Treasurer David Olsen, who also serves on the national GFOA’s committee on Cash Management and Investing.
“The receipt of this award confirms that our Comprehensive Annual Financial Report continues to meet the high standards as set by the GFOA. We are grateful for their review and recognition,” said Ken Alfano, city controller.
GFOA is a nonprofit, professional association serving approximately 16,000 government finance professionals, with offices in Chicago and Washington , DC .