New Canaan Recognized For Excellence In Financial Reporting

NEW CANAAN, CT — New Canaan recently was awarded with the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for the town's comprehensive annual financial report (CAFR), officials announced.

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 financial management team.

"The Town is very happy and proud that our Finance Department has operated with such diligence and transparency that they have accomplished the goal of obtaining this highly coveted award for excellence," said New Canaan First Selectman Kevin Moynihan in a statement. "The Selectmen, the Board of Finance and the Audit Committee are very pleased with the strong team that manages our Town finances led by CFO Sandy Dennies, Controller Joanne Noone and Budget Director Lunda Asmani and the School District's finances led by Finance Director Dr. Jo-Ann Keating."

The award was based upon judgement of an impartial panel, and was given based on a demonstration of a constructive "spirit of full disclosure" to clearly communicate the town's financial story and motivate potential users and user groups to read the CAFR.

From the town's announcement:

The GFOA is a major professional association serving the needs of over 20,000 appointed and
elected local, state, and provincial-level government officials and other finance practitioners. It provides quality publications, training programs, services, and products designed to enhance the skills and performance of those responsible for government finance policy and management. It is headquartered in Chicago with offices in Washington, D.C.

The Finance Department has worked diligently with the Audit Committee to meet the performance challenges of responsible and responsive financial reporting. Members of the Committee have expressed their pleasure at the receipt of such an award and the team that has made achievement of this standard of excellence possible.