Town of Woodbridge Receives Award for Audit

The Town of Woodbridge recently received a Certificate of Achievement for Excellence in Financial Reporting (CAFR) from the national Government Finance Officers Association of the United States and Canada (GFOA).

This 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.

The award was presented to the Town’s Administrative Officer and Finance Director Tony Genovese for the Town’s financial audit. This is the Town’s 19th time earning the award.

The GFOA’s CAFR program is designed to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles. The program emphasizes comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then recognizes individual governments that succeed in achieving that goal.

Earlier this year Woodbridge also received the Distinguished Budget Presentation Award from GFOA. Only a small percentage of Connecticut towns earn both awards.

“The Town of Woodbridge regularly receives both of these awards that recognize the outstanding work of the Town’s Finance Department and the volunteer Board of Finance,” said First Selectman Ellen Scalettar.

“These awards, coupled with Moody’s recent confirmation of the Town’s Aaa bond rating, affirm that the Town’s Finance Department and Board of Finance are doing an excellent job of managing the Town’s finances and reporting on those finances,” said Board of Finance Chair Matthew Giglietti.

The Finance Department is currently preparing the 2014-15 audit for publication and submission.