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News

Port of SD Receives Award for Financial Reportings

Jul 26, 2018

For the fourth consecutive year, the Government Finance Officers Association for the United States and Canada (GFOA) has awarded the Port of San Diego with the Certificate of Achievement for Excellence in Financial Reporting for their Comprehensive Annual Financial Report.

This award is considered to be one of the most highly regarded recognitions in the area of governmental accounting and financial reporting, and represents a major achievement for the Port.

GFOA represents public finance officials throughout the United States and Canada and has more than 19,000 appointed and elected local, state, and provincial-level government officials deeply involved in planning, financing, and implementing thousands of governmental operations within their area of jurisdiction.

“Receiving the Certificate of Achievement for Excellence in Financial Reporting for the fourth consecutive year once again proves the Port’s dedication to provide full disclosure,” said Port Chairman Rafael Castellanos. “As a self-funded organization dedicated to public service, we endeavor to be as transparent as possible in order to provide the public with information about our operations and financial performance.”

“As a 21st Century port, the Port of San Diego is known as a leader in community engagement and public information, and the quality of our financial reporting speaks volumes about the open and transparent approach we take to governance,” said Chief Executive Officer Randa Coniglio. “Receiving this award once again demonstrates our staff’s professionalism and commitment to excellence.”

The Port’s CAFR was reviewed by a nonpartisan panel comprised of individuals with expertise in public sector financial reporting that included financial statement preparers, independent auditors, academics and other finance professionals.

In addition, the GFOA presented an Award of Financial Reporting Achievement (AFRA) to the Financial Services Department for their excellent work in putting together the Comprehensive Annual Financial Report. This award is given to the department that played an integral role in leading their government organization to achieve the Certificate of Achievement.

“The Financial Services Department has earned this award through hard work, dedication and a focus on public service,” said Vice President and Chief Financial Officer Robert “Bob” DeAngelis. “Our team members are constantly challenging themselves to improve and grow professionally and the Award of Financial Reporting Achievement validates these efforts.”

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage 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.

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