- CAFR Awarded Highest Honor for More Than 30 Consecutive Years -
Annapolis, MD (September 19, 2012)
A North-American government finance organization recently awarded Comptroller Peter Franchot with the Certificate of Achievement for Excellence in Financial Reporting. The Government Finance Officers Association of the United States and Canada (GFOA) honored Comptroller Franchot for Maryland’s fiscal year 2011 Comprehensive Annual Financial Report (CAFR). Received for the last 33 years, the award is the highest form of recognition in the area of governmental accounting and financial reporting.
“I believe we must make the actions of government transparent to the people, or we can’t claim we’re operating with the consent of the governed. A strict adherence to transparency is something I believe in strongly. In that spirit of openness, I’m proud that my agency’s efforts to educate and inform the public on the state’s finances are being recognized. However, we can do more, which is why I’m asking Governor O’Malley, Maryland’s legislative leadership, private sector stakeholders, and other parties to meet in the near future to discuss reasonable and realistic proposals for rolling out statewide transparency, including campaign financing,” said Comptroller Franchot.
Currently, the state of Colorado leads the nation in campaign finance disclosure having implemented an immediate online financial disclosure requirement for state elected officials. While there are a number of other states considering the idea, Comptroller Franchot believes Maryland has a duty, based on its progressive values, to take a leadership role in more accurate campaign finance disclosure, not just for the annual CAFR.
The CAFR was judged by an impartial panel to meet high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users to read the publication. For more information on the award program, visit the GFOA website at www.gfoa.org. For more information on the award program, visit the GFOA website at www.gfoa.org. For more information on the state’s financial picture, view the state’s fiscal year 2011 CAFR.
The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals.
MEDIA CONTACT: Kim Frum, 410-260-7210 (office); 443-949-1583 (cell)