The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the Springfield Airport Authority by the Government Finance Officers Association of the United States and Canada (GFOA) for its 2019 Comprehensive Annual Financial Report, or CAFR. 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 management.
“The Springfield Airport Authority maintains its long-standing core principles of being enterprising, creative and transparent. Our CAFR underscores our continued commitment to have an entrepreneurial mindset that emphasizes innovation and financial efficiency, while providing a full public disclosure of our financial position,” said Frank J. Vala, Chair of the Springfield Airport Authority. Mike Houston, the Authority’s Budget and Finance Committee Chair added, “This recognition is a direct reflection on the efforts of our staff and their attention to detail, in particular Ken Boyle, the Authority’s Director of Administration and Finance and his department; they are to be commended for this achievement”.
The Springfield Airport Authority is a multi-year winner of this award having received it the past seventeen (17) consecutive years. In order to be awarded the Certificate of Achievement, a government entity must publish an easily readable and efficiently organized comprehensive annual financial report whose contents conform to program standards. Such reports must satisfy both Generally Acceptable Accounting Principles (GAAP) and applicable legal requirements.
The CAFR has been judged by an impartial panel to meet the high standards of the program, which includes 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 non-profit professional association serving approximately 21,000 government finance professionals. The association is headquartered in Chicago, Illinois with offices in Washington, D.C.