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Posted on: September 3, 2019

County of Maui receives certificate for Excellence in Financial Reporting

The County of Maui received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for fiscal year 2018.

This marks the 36th consecutive year the County has been awarded the certificate, which is the highest form of recognition in the area of governmental accounting and financial reporting, according to GFOA. The achievement represents a significant accomplishment by a government and its management.

An Award of Financial Reporting Achievement has been given to the individual(s) or department designated by the government as primarily responsible for preparing the qualifying CAFR.

The CAFR has been 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 CAFR.

Mayor Michael Victorino applauded the Department of Finance and its staff for their continued excellence and going above and beyond in their financial reporting.

“We are very fortunate to have one of the top finance departments in the entire country, right here in Maui County,” Mayor Victorino said. “I thank Director Scott Teruya, Deputy Director May-Anne Alibin and all of their staff for their hard work and dedication.”

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.

The Government Finance Officers Association is a major professional association servicing the needs of nearly 19,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, with offices in Washington, D.C.

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