State of Wisconsin Awarded Highest Recognition for Financial Reporting

Madison, Wis. – Today, DOA Secretary Kathy Blumenfeld announced that the State of Wisconsin was once again awarded a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA). Wisconsin received the award for the Annual Comprehensive Financial Report (ACFR) issued by the State Controller’s Office for fiscal year 2022-23. The report has been judged by an impartial panel to meet the high standards of the program.  

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment. The state of Wisconsin ACFR has received a Certificate of Achievement for Excellence in Financial Reporting each year since 1996.

“We have worked hard to make smart, strategic investments, resulting in the best fiscal position we’ve ever been in as a state,” said Governor Evers. “For four years, Wisconsin has had a positive GAAP balance, and we’ve not only maintained our state’s positive economic momentum, we’ve also demonstrated great transparency and accountability to our state’s taxpayers.”  

“I’m very proud of our team of dedicated public servants who hold themselves to the highest standards, recognized nationally for nearly thirty years,” added DOA Secretary Kathy Blumenfeld. “This award represents not only our commitment to strong financial stewardship for Wisconsin taxpayers, but also a long-term and enduring commitment to transparency and accountability.”

The Wisconsin Department of Administration has published the state’s ACFR since 1990. The report is prepared on a GAAP basis, and for four consecutive years has had a positive GAAP balance. The adoption of GAAP by the state of Wisconsin for financial reporting purposes serves to present the state’s financial position in a business-like manner. GAAP reporting accurately measures financial operations, fully discloses financial positions, and provides information for financial managers.   

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.