Knik Arm Bridge & Toll Authority Receives Excellence in Financial Reporting Award
Seventh year of recognition for governmental accounting and financial reporting
(Anchorage) – The Government Finance Officers Association (GFOA) recently awarded the Knik Arm Bridge and Toll Authority with the “Certificate of Achievement for Excellence in Financial Reporting” for a seventh consecutive year for its 2012 Comprehensive Annual Financial Report (CAFR).
Andrew Niemiec, the Authority’s Executive Director, stated, “This award is recognition that we are providing clear and concise information to the public.” He continued “It represents the Authority’s commitment to excellence.”
The GFOA’s Certificate of Achievement is good for one year only. In order to achieve the award, the government agency must publish an easily readable and efficiently organized comprehensive annual financial report. The report must satisfy both generally accepted accounting principles and applicable legal requirements. The financial section of the CAFR must include the report of an independent auditor on the fair presentation of the financial statements.
CAFRs submitted for the award are evaluated by two GFOA Special Review Committee members and must receive the unanimous approval of both reviewers. Once the CAFR has been determined to conform substantially to GFOA program standards, GFOA awards the certificate to the governmental organization which submitted the application and to the individual designated by the governmental organization as primarily responsible for the submission.
Alaska Department of Revenue Deputy Commissioner Angela Rodell, the chair of the Knik Arm Bridge and Toll Authority Audit Committee, praised the Authority’s staff for earning their seventh consecutive award. “The comprehensive annual financial report was judged by an impartial panel and demonstrated a spirit of full disclosure,” Rodell said. “I am pleased to see this consistent level of achievement from the staff of this important transportation project.”
For more information contact the Knik Arm Bridge and Toll Authority at 907-269-6698.