Franklin honored for financial reporting
Published 5:30 pm Wednesday, January 12, 2022
The city of Franklin has received national recognition for the quality of its financial reporting.
Government Finance Officers Association of the United States and Canada announced in a Wednesday, Jan. 5, press release that it had awarded the Certificate of Achievement for Excellence in Financial Reporting to Franklin for its annual comprehensive financial report for the fiscal year that ended June 30, 2020.
Officials stated in the release, “The report 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 report.”
GFOA Director of Technical Services Michele Mark Levine first announced the honor to Franklin in a Jan. 5 letter to Franklin City Manager Amanda C. Jarratt.
“The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management,” Levine wrote.
Levine added that when a Certificate of Achievement is awarded to a government, an Award of Financial Reporting Achievement is also presented to the individual(s) or department designated by the government as primarily responsible for its having earned the certificate.
Jarratt expressed pride in what the certificate said about the work of city staff.
“The Certificate of Achievement for Excellence in Financial Reporting is recognition of outstanding achievement in our financial presentations and our audit,” she said. “We are meeting the highest standards for our audit presentation, and it has been nationally recognized. I am proud of the entire finance department and leadership team to make sure we again meet the highest standards.”
Levine concluded the announcement letter by stating, “We hope that your example will encourage other government officials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting.”
The press release noted that the Government Finance Officers Association advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 21,000 members and the communities they serve.