News Column

Comptroller Peter Franchot Receives Honor for Financial Reporting

June 26, 2014

ANNAPOLIS, Md., June 26 -- The Maryland State Comptroller issued the following news release:

A North-American government finance organization has awarded Comptroller Peter Franchot with the Certificate of Achievement for Excellence in Financial Reporting. The Government Finance Officers Association of the United States and Canada (GFOA) honored Comptroller Franchot for Maryland's fiscal year 2013 Comprehensive Annual Financial Report (CAFR). Received for the last 35 years, the award is the highest form of recognition in the area of governmental accounting and financial reporting.

"I'm proud that my agency is being recognized once again for its efforts to educate and to keep the public informed on the state's finances," said Comptroller Franchot. "All taxpayers deserve an open and transparent government."

The CAFR was judged by an impartial panel to meet high standards of the program including demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users to read the publication.

"... Its attainment represents a significant accomplishment by a government and its management," wrote GFOA's Director of Technical Services Stephen J. Gauthier in a letter notifying the Comptroller of the achievement.

For more information on the award program, visit the GFOA website at For more information on the state's financial picture, view the state's fiscal year 2013 CAFR.

The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals.

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Source: Targeted News Service

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