August 3, 2020 — For the sixth year in a row, the Port of San Diego has been recognized for its excellence in financial reporting by the Government Finance Officers Association of the United States and Canada. (GFOA) The agency awarded the Port the prestigious Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report (CAFR). The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting. Along with that, GFOA also awarded the Award of Financial Reporting Achievement (AFRA) to the Port’s Financial Services Department as the team responsible for preparing the CAFR.
“Being recognized with these awards demonstrates the Port’s commitment to providing full disclosure,” said Ann Moore, Chair of the Board of Port Commissioners. “As a 21st century government, we are constantly striving to improve our operations while looking to the future so that we remain an economic engine for the region, a champion of the environment and communities, as well as a service provider to constituents, businesses and community members.”
The Port’s CAFR has been judged by an impartial panel comprised of individuals with expertise in public sector financial reporting that included financial statement preparers, previous independent auditors, academics and other finance professionals to meet the high standards of the program.
GFOA represents public finance officials throughout the United States and Canada and has more than 20,000 appointed and elected local, state, and provincial-level government officials deeply involved in planning, financing, and implementing thousands of governmental operations within their area of jurisdiction.
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 requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.