Newark, DE - The City of Newark was awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA). This is the seventh consecutive year the award was presented to the City, which was evaluated based on its 2015 comprehensive annual financial report (CAFR).
"For seven straight years, the GFOA has recognized and celebrated Newark's commitment to superior financial reporting and government transparency," said City Manager Carol Houck. "We are honored our finance team was recognized for their hard work and remain committed to upholding these high standards as we move forward into the new year."
The certificate is the highest form of recognition in the area of governmental accounting and financial reporting. Newark's CAFR was judged by an impartial panel to meet the high standards of the program, including the demonstration of a constructive "spirit of full disclosure" to clearly communicate its financial profile and audited financial statements to all interested parties.
"As we are still in the midst of budget season, receiving this recognition from the GFOA could not come at a more apt time," said Newark's finance director David Del Grande. "It speaks to our continued focus towards excellence and the tremendous effort by our finance team, including deputy finance director Jill Hollander; accountants Jim Smith and Debi Keeley, and finance assistants Deb Kupper and Travis Burke."
The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals in the United States and Canada. The comprehensive annual financial report was judged by an impartial panel to meet the high standards of the international program.