Commonwealth of Massachusetts awarded Certificate of Achievement for Excellence in Financial Reporting for 33rd consecutive year
The Office of the Comptroller is pleased that the Commonwealth of Massachusetts has been awarded the Certificate of Achievement for Excellence in Financial Reporting. The Certificate of Achievement is awarded by the Government Finance Officers Association of the United States and Canada (GFOA), and is bestowed on the basis of the Office of the Comptroller’s filing of the Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2022. The Office of the Comptroller filed and submitted the ACFR on June 2, 2023.
According to the GFOA, the Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. Members of GFOA staff and the GFOA’s Special Review Committee reviewed the report using a checklist to determine compliance with both generally accepted accounting principles (GAAP) and program policy as established by the GFOA’s Special Review Executive Committee and the GFOA Executive Board. The Commonwealth’s ACFR received the highest possible rating in each of the seventeen categories reviewed by the GFOA.
This is the 33rd consecutive year that the Commonwealth of Massachusetts has received this prestigious award.
Said Comptroller of the Commonwealth William McNamara, “The Commonwealth of Massachusetts is rightfully proud of its strong financial footing. This is due in part to the committed financial reporting and accounting professionals whose expertise accurately and thoroughly provides the accounting and reporting of state finance. I am grateful the GFOA for its review of our financial report, and its recognition of so many in this office and throughout state government who have built – and who maintain — the Commonwealth’s streak of excellence.”
About the Annual Comprehensive Financial Report
The Annual Comprehensive Financial Report is prepared by the Office of the Comptroller, audited by Independent Certified Public Accountants and published annually for the year ended on June 30. The Annual Report reports activity according to Generally Accepted Accounting Principles (GAAP).
About the Office of the Comptroller
The Office of the Comptroller of the Commonwealth of Massachusetts (CTR) is an independent and apolitical agency charged with overseeing the Commonwealth’s financial systems, preparing the annual financial reporting, and managing the external single audit process. In addition, CTR oversees the Commonwealth’s general ledger, payroll and vendor management, trains state employees on risk mitigation, and operates the Commonwealth’s financial system.
As stewards of the public trust, CTR aspires to inspire confidence by maintaining our core principles: clarity, integrity, and accountability. The powers and obligations of the Office of the Comptroller are generally dictated by M.G.L. c. 7A.