WEDC recognized for excellence in financial transparency

MADISON, WI. JULY 1, 2024 –The Wisconsin Economic Development Corporation (WEDC) has again earned national recognition for outstanding financial reporting from the Government Finance Officers Association of the United States and Canada (GFOA).

WEDC received the Certificate of Achievement for Excellence from GFOA for its Annual Comprehensive Financial Report (ACFR) for the fiscal year that ended June 30, 2023. The certificate 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, according to the GFOA.

GFOA said WEDC’s financial report “has been 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.”

This marks the eleventh consecutive year WEDC has received the certificate.

“Building an economy that works for everyone requires transparency and communication,” said Missy Hughes, secretary and CEO of WEDC, the state’s leading economic development organization. “WEDC works hard to help taxpayers, policymakers and businesses understand the investments the state is making in achieving economic well-being for all. This honor recognizes WEDC’s commitment to transparency and accountability.”

WEDC also received GFOA’s Distinguished Budget Presentation Award earlier this year for the second year in a row. That award recognizes clarity and transparency in effective budget presentation. The presentation is judged on how well it serves as a policy document, as a financial plan, as an operations guide and as a communications device.

WEDC’s 2024 fiscal year budget can be found online at: https://wedc.org/wp-content/uploads/2024/05/WEDC-Operations-Budget-Plan-FY24.pdf

GFOA is a professional association serving more than 21,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. It provides top-quality publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management.

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.