Wilton receives award for financial reporting

The Town of Wilton recently received a certificate of achievement for excellence in financial reporting from the Government Finance Officers Association (GFOA), the office of First Selectman Bill Brennan said Monday.

The GFOA is a nonprofit professional association serving approximately 17,500 government finance professions in the U.S. and Canada. This is the highest form of recognition in the area of governmental accounting and financial reporting, Mr. Brennan’s office said, and its attainment represents a significant accomplishment by a government and its management.

The Town’s Comprehensive Annual Financial Report (CAFR) was submitted to the GFOA for professional review by a jury of the organization’s members. The jury is an impartial panel that strives to meet the high standards of the organization including that of demonstrating a constructive “spirit of full disclosure” to clearly communicate the financial story and motivate potential user groups to read the CAFR.

The award of financial reporting achievement went to Rich McArdle, controller, for preparing the award-winning CAFR.

There are 17 areas that are reviewed and the report was found to be proficient in all of those areas.

“This is a wonderful achievement for the Town of Wilton,” Mr. Brennan said. “[It shows we are using the] town’s resources effectively and that we are in compliance with tough Governmental Accounting Standards Board requirements. Our residents can be assured that the use of their tax dollars is being done transparently and appropriately.”