State of Wisconsin Awarded Highest Recognition for Financial Reporting for 30th Year in a Row
Wisconsin Continues to Lead on Fiscal Stewardship Under Gov. Evers
Madison, Wis. – Today, Wisconsin Department of Administration (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).
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. Wisconsin received the award for the Annual Comprehensive Financial Report (ACFR) issued by the State Controller’s Office for fiscal year 2024-25. The state of Wisconsin ACFR has received a Certificate of Achievement for Excellence in Financial Reporting each year since 1996.
“My administration has been committed to being responsible stewards of taxpayer dollars, paying off our state’s debts, and we’ve ended every fiscal year I’ve been governor with a positive balance, in addition to maintaining a AAA bond rating for five years,” said Gov. Evers. “I’m incredibly proud of the smart and strategic investments we’ve made while generating savings for Wisconsin taxpayers and ensuring our state’s finances are in an enviably strong position for years to come, despite Republicans standing in the way of investing our record state surplus to supporting Wisconsin’s kids and K-12 schools, providing statewide property tax relief, or helping working families afford rising costs.”
“For thirty years, the hard work of our dedicated public servants has been nationally recognized, an impressive testament we are proud to celebrate,” said DOA Secretary Kathy Blumenfeld. “This latest recognition showcases our strong commitment to ensuring financial stewardship and accountability to Wisconsin taxpayers.”
The Wisconsin Department of Administration has published the state’s ACFR since 1990. Gov. Evers has made addressing the state’s deficit a top priority throughout his administration. In 2020, Gov. Evers announced that the state was no longer running a deficit using Generally Accepted Accounting Principles (GAAP) for the first time since DOA began publishing the ACFR. The state has maintained a positive GAAP balance for six consecutive years. 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. The “rainy day” budget stabilization fund has set a new record in every fiscal year under Gov. Evers, while the state has maintained a AAA bond rating since 2021.
Visit the DOA Financial Reporting website to learn more.
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.
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