Maui Receives National Awards for Finances and Budgeting
Amid an economic crunch and a budget shortfall, Maui County is getting recognition for its Financial and Budgeting efforts.
The county received two national awards:Â A Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ending June 30, 2008, and a Distinguished Budget award for the fiscal year beginning July 1, 2009, both from the Government Finance Officers Association of the United States and Canada (GFOA).
According to the GFOA, the awards represent the highest form of recognition in the area of governmental accounting, financial reporting and budgeting. The County’s FY 2007-2008 comprehensive annual financial report and FY 2009-2010 annual budget met all mandatory criteria and were rated proficient in all categories.
“We are proud of the efforts of County staff to continually improve the quality of our financial reporting and budgeting,” said Mayor Tavares. “I would like to recognize the diligent work of our Finance Department, led by Director Kalbert Young, Deputy Director Agnes Hayashi and Accounting System Administrator Ty Yoshimi. On the Budget side, Budget Director Fred Pablo, Assistant Budget Director Helene Kau and their dedicated team not only assembled a nationally-recognized document, but have already begun taking proactive measures on the next budget cycle by coordinating the series of Budget Community Meetings that we held throughout Maui County. I am proud of our achievements in meeting and exceeding the expectations for effective financial reporting and budgeting.”
The County’s annual financial report, which has been honored for 26 consecutive years, was acknowledged for demonstrating a “constructive spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the financial report. The County’s annual budget was judged on how well it serves as a policy document, financial plan, operation guide and communications device.
The Government Finance Officers Association is a non-profit professional organization serving over 17,600 government finance professionals throughout the country.Â The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR 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.
More than 3,500 governments participate in the awards programs each year.
(Posted by Wendy Osher; Information provided by the County of Maui)