For the 20th consecutive year, the Township of Lower Merion has been awarded a Certificate of Achievement for Excellence in Financial Reporting. The award, given by the Government Finance Officers Association of the United States and Canada (GFOA), notes the excellence of the Township’s annual comprehensive financial report (CAFR) for the year ending December 31, 2012.
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.
“With our 20th consecutive award, the Township has hit a meaningful milestone in terms of consistency and transparency,” said Dean Dortone, Chief Financial Officer. “The award is a major accomplishment for the entire Finance Department staff.”
For the 2012 fiscal year, Lower Merion again achieved the distinction of earning both of the GFOA’s financial reporting awards – the Certificate of Achievement for Excellence and the Distinguished Budget Presentation award. “We do not take these awards for granted,” said Bob Duncan, Acting Township Manager. “The Township’s 20 consecutive CAFR awards and 24 consecutive Budget Presentation awards total the longest running combined streak on record for municipalities in Pennsylvania. It bears repeating that less than 1% of the more than 2,500 municipalities in the Commonwealth are recognized with the yearly CAFR award. We share this distinction of financial reporting excellence with an elite group.”
“I congratulated Mr. Dortone and his staff on the continued outstanding financial management that has become the standard of the Township’s Finance Department,” said Ward 13 Commissioner Brian McGuire, Finance Committee Chair. An Award of Financial Reporting Achievement was given to Dean J. Dortone, Chief Financial Officer.
The Lower Merion Township CAFR was judged by an impartial panel and found to meet the high standards of the program, including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR. Citizens are encouraged to review this document, which is posted on the Township’s website, www.lowermerion.org.
The GFOA is a nonprofit professional association serving some 17,500 government finance professionals, with offices in Chicago, Illinois, and Washington, D.C.