Certificate of Achievement for Excellence in Financial Reporting
In 2019, Radnor Township earned Government Finance Officers Association's (GFOA's) "Certificate of Achievement for Excellence in Financial Reporting". For the 9th straight year, Radnor Township is being recognized by the Government Finance Officers Association (GFOA) for excellence in financial reporting.
In a press release issued by the GFOA on March 18, 2021, they note that "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 members of the Township Finance Department and CARFAC should be recognized for their efforts in earning this Certificate. Thank you to each of them and to the Board of Commissioners for their support.
Radnor Township also earned GFOA's "Certificate of Achievement for Excellence in Financial Reporting" twelve straight years from 1995-2006, and another nine straight years from 2011 - 2019.
About the Award The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist 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. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.
Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which comprises individuals with expertise in public sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.