City News

City of Wilmington Receives its 28th Consecutive National Award for Excellence in Financial Reporting

Post Date:06/16/2017 9:33 AM

Wilmington Mayor Michael S. Purzycki and the City Finance Director Patrick Carter said today that the Government Finance Officers Association of the United States and Canada (GFOA) has awarded Wilmington a Certification of Achievement for Excellence in Financial Reporting. This is the 28th consecutive year the City has received this recognition.

The City’s award focused on the 2016 edition of the Comprehensive Annual Financial Report (CAFR), a report which the City touts as providing clear, straightforward financial information to citizens, elected officials, and other interested parties that monitor Wilmington’s financial condition. The GFOA is recognized as one of the best sources of financial reporting guidance for state and local governments in North America. It has a membership of approximately 19,000 government finance professionals throughout the U.S, and Canada.

“I commend and congratulate our Finance Department for following a consistent pattern of presenting the City’s financial information in an easy-to-understand and professional format,” said Mayor Mike Purzycki. “This award affirms that the City is following the financial industry’s highest practices and benchmarks, and more importantly, is making government finances digestible for all citizens which leads to more citizen participation in their government.”

The GFOA’s Certificate of Achievement is the highest recognition given for governmental accounting and financial reporting. Of the approximately 50,000 eligible public entities throughout North America, an average of just 5% receive the award each year. The fact that Wilmington is celebrating its 28th consecutive award is, according to Mayor Purzycki, very noteworthy and exceptional. To be awarded a Certificate of Achievement from the GFOA, a government must publish an easily readable, efficiently organized, and comprehensive annual financial report that satisfies both generally accepted accounting principles and applicable legal requirements.

For more information about this news release, contact:

John Rago
Deputy Chief of Staff for Policy and Communications
Office of Mayor Michael S. Purzycki
Mobile: (302) 420-7928

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