Port Freeport Receives 29th GFOA Award

For the 29th consecutive year, Port Freeport received the Certificate of Achievement for Excellence in Financial Reporting by Government Finance Officers Association of the United States and Canada (GFOA) for its 2017 Comprehensive Annual Financial Report (CAFR).

“The accounting and finance department continues to demonstrate excellence in their practices each year,” said Paul Kresta, port chairman. “On behalf of the port commission, we are pleased to see the department’s continued efforts rewarded with this acknowledgement.”

The certificate of achievement is the highest form of recognition in governmental accounting and financial reporting. The award demonstrates the port’s commitment to accurate and full disclosure to the public of the port’s financial performance.

“It is an honor to recognize the accounting and finance department for their achievements,” said Phyllis Saathoff, executive director and CEO of the port. “Their dedication contributes to the consistent practice of keeping our accounting and financial reporting system at the highest national standards of communication and accountability to the public.”

The CAFR has been judged by an impartial panel 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. The GFOA is a major professional association serving nearly 19,000 government finance professionals with offices in Chicago, Ill., and Washington, D.C.