Nov. 18, 2020
For the fifth consecutive year, the Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the Michigan Finance Authority for its Comprehensive Annual Financial Report (CAFR) for the fiscal year that ended on Sept. 30, 2019.
The CAFR has been judged by an impartial panel to meet the high standards of the program, which includes 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 Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
"This is a great achievement for MFA accountants," said Debbie Roberts, director of Treasury's Bureau of Local and State Finance. "I want to thank all the MFA accountants for the great work they do. We appreciate the amount of time and effort that goes into the annual audit, building of the CAFR and daily work to keep everything running smoothly."
The Michigan Finance Authority was first awarded the Certificate of Achievement for Excellence in Financial Reporting in 2015.
MFA provides effective, low-cost options to finance the acquisition, construction, improvement, or alteration of land, facilities, equipment, the payment of project costs, or to refinance existing debt. Customers include:
To learn more about the MFA, go to www.michigan.gov/mfa.