For the third year in a row, AC Transit was given a Certificate of Achievement for Excellence in Financial Reporting (CARF) for producing a "comprehensive annual financial report." The award is the highest form of recognition in the area of government accounting and financial reporting.
AC Transit was 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."
"As a public agency, we are very proud of this honor as it demonstrates how hard we work to produce information that is concise and yet easily understood and readily accessible,'' said AC Transit's Interim General Manager Mary King. "Transparency is important to us so we endeavor to be as open as possible. This award validates our efforts and suggests that we are doing things right."
The GFOA is a nonprofit professional association serving 17, 500 government finance professionals with offices in Chicago and Washington, D.C.