STATE AUDITOR KLUTZ ANNOUNCES INDIANA’S 25TH CONSECUTIVE FINANCIAL ACHIEVEMENT AWARD
Indiana Auditor of State Tera Klutz, CPA, announced that for the Twenty-Fifth consecutive year, Indiana has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA). The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage state and local governments to go beyond the minimum reporting requirement of financial data. The award was based on the 2017 Comprehensive Annual Financial Report (CAFR) which details Indiana’s financial landscape and accounts for all state funds as of June 2017. The CAFR also includes other financial, demographic, economic and statistical data. The CAFR, which was released in December 2017, is prepared in conformity with Generally Accepted Accounting Principles (GAAP) as prescribed in pronouncements by the Governmental Accounting Standards Board (GASB). It is primarily used by stakeholders currently investing or looking to invest in Indiana and is influential in the state’s AAA credit rating given by the three major credit rating agencies; Moody’s, Standard & Poor’s, and Fitch Ratings.
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