Franklin wins financial reporting award

Published 12:43 pm Wednesday, August 14, 2013

FRANKLIN—When City Manager Randy Martin was hired a year and a half ago, one goal he wanted to accomplish was being awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association.

A year and a half has passed, and he can check that goal off his list. The highest form of recognition in the area of government accounting has been achieved as of Aug. 6.

“This is a good achievement for us,” Martin said. “It has residual benefits as well. The financing institutions that you seek to borrow from and organizations of that nature recognize that this speaks well to the community. It will help in credit ratings.”

Martin gave his regards to the finance department, and its director Melissa Rollins for making this happen.

“In our first effort in going for it, we got it,” Martin said “I’m very proud of the efforts of the finance department, particularly Melissa Rollins for making this happen.”

Mayor Raystine Johnson-Ashburn likewise applauded the work of the finance department.

“It took a lot of work for the financial director and her staff,” Johnson-Ashburn said. “We are just awfully pleased and appreciative for their hard work.”

This is the first time Franklin has achieved this award, and the first time going for it, as far as current city officials know, said Rollins.

“I was very pleased. I was excited and anxiously anticipating the word, and we received the notice on Friday.

“I am excited and pleased, and the city manager was pleased as well. It is certainly an accomplishment, and it was one of my goals, as well as Mr. Martin’s.”

Johnson-Ashburn said it was a compliment to the City of Franklin.

“We are just elated to get it,” she said. “It is going to help us in the future as we move forward. We can include that certification in anything we do, and that includes a bond rating. I’m just ecstatic about the exceptional work by the staff.”

The award is based on the 2012 Comprehensive Annual Financial Report. The report was judged by an impartial panel to meet the standards of the program, including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.

The GFOA of the U.S. and Canada is a non-profit association serving 17,500 government finance professionals.

The City of Franklin joins the Isle of Wight County government in receiving the credential for this past year’s comprehensive report.