Bridgeport, CT – Mayor Joe Ganim and Finance Director Kenneth Flatto announced today the City of Bridgeport received National Recognition for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) of the United States and Canada for its annual audit Comprehensive Annual Financial Report (CAFR) completed in February 2017. The City of Bridgeport was graded proficient in all categories, such as Government-wide financial statements, a summary of significant accounting policies and pension-related note disclosures. The Certificate of Achievement is the highest form of recognition in the area of government accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

Finance Director Kenneth Flatto said, “We are appreciative of the Certificate of Achievement for Excellence in Financial Reporting Award received for our City and its Finance department.

The daily effort of the Finance group truly enables all city departments to operate effectively and represent some of the best within this City’s workforce.”

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. The CAFR has been judged by an impartial panel to meet the high 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 CAFR. The GFOA is a nonprofit professional association serving approximately 17, 500 government finance professionals with offices in Chicago, IL and Washington, D.C.