The County of Maui’s Department of Finance Accounts Division has been recognized for “excellence in financial reporting” by the Government Finance Officers Association of the United States and Canada. This prestigious honor, known as the Certificate of Achievement for Excellence in Financial Reporting, is the highest form of recognition in the field of governmental accounting and financial reporting. The county’s comprehensive financial report for the fiscal year ending June 30, 2022, was judged by an impartial panel, who praised the report for its clear communication of the county’s financial story. Mayor Richard Bissen commendes his team for their commitment to integrity and transparency, stating that the award showcases the employees’ dedication to serving the community well. With 22 employees, the Department of Finance Accounts Division is located at the county’s Kalana O Maui building in Wailuku.
County of Maui awarded for ‘excellence in financial reporting’
The County of Maui’s Department of Finance Accounts Division recently received the prestigious Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada. This award is considered the highest form of recognition in the field of governmental accounting and financial reporting. It signifies a significant accomplishment by the government and its management. The judging panel based their decision on the county Finance department’s annual comprehensive financial report for the fiscal year that ended on June 30, 2022. The report was commended for its clear communication of the county’s financial story and its ability to engage potential users and user groups. This recognition is a testament to the County of Maui’s commitment to integrity and transparency.
Recognition from the Government Finance Officers Association
The Government Finance Officers Association (GFOA) is an organization that advances excellence in government finance. With its headquarters in Chicago, the GFOA has been providing best practices, professional development, and resources to its more than 21,000 members and their communities since 1906. Their mission is to promote fiscal responsibility and assist governments in effectively managing their financial resources. The GFOA’s recognition of the County of Maui’s Department of Finance Accounts Division highlights their commitment to upholding the highest standards of financial reporting.
Award based on annual comprehensive financial report
The County of Maui’s Department of Finance Accounts Division was awarded for its excellence in financial reporting based on the comprehensive financial report for the fiscal year ending on June 30, 2022. This report showcased the county’s financial position, presenting a transparent and accurate account of its financial activities. The panel of judges praised the report for its constructive “spirit of full disclosure,” as it effectively communicated the county’s financial story to potential users and user groups. The comprehensive financial report serves as a valuable tool for understanding the County of Maui’s financial health and provides stakeholders with the necessary information to make informed decisions.
Mayor Richard Bissen commends the Accounts Division
Mayor Richard Bissen expressed his appreciation for the recognition received by the County of Maui’s Department of Finance Accounts Division. In a news release, Mayor Bissen commended the Accounts Division for their commitment to integrity and transparency. He specifically acknowledged Finance Director Scott Teruya, the Accounts Division, and the entire Finance Department for their dedication in serving the community. This award highlights the hard work and dedication of the Accounts Division in ensuring the County of Maui’s financial reporting is of the highest standard.
Department of Finance Accounts Division
The Department of Finance Accounts Division is an integral part of the County of Maui’s financial management system. Located at the county’s Kalana O Maui building in Wailuku, the Accounts Division consists of 22 employees. Their primary role is to ensure the accurate and timely processing of financial transactions, maintain the county’s financial records, and prepare comprehensive financial reports. The Accounts Division plays a crucial role in maintaining the financial stability and transparency of the County of Maui.
Overview of the Government Finance Officers Association
The Government Finance Officers Association (GFOA) is a respected professional association that promotes excellence in government finance. Founded in 1906, the GFOA has been a trusted resource for more than a century, providing best practices, professional development opportunities, and practical research to its members. With a membership of over 21,000 government finance professionals from the United States and Canada, the GFOA works to uphold the highest standards of financial management in the public sector. Their recognition of the County of Maui’s Department of Finance Accounts Division is a testament to the division’s commitment to these standards.
Background on the County of Maui
The County of Maui is located in the state of Hawaii and consists of four islands: Maui, Molokai, Lanai, and Kahoolawe. As one of the four counties in Hawaii, the County of Maui is responsible for providing a variety of services to its residents, including public safety, infrastructure development, and financial management. The County of Maui’s government is led by Mayor Richard Bissen, who has been instrumental in promoting transparency and accountability in financial reporting. The award received by the Department of Finance Accounts Division reflects the County of Maui’s commitment to maintaining a high standard of financial management.
Location and size of the Accounts Division
The Department of Finance Accounts Division is located at the county’s Kalana O Maui building in Wailuku. This central location allows for easy access and collaboration with other departments within the County of Maui government. With a team of 22 dedicated employees, the Accounts Division ensures the accurate and efficient processing of financial transactions and maintains the county’s financial records. They play a crucial role in supporting the overall financial management of the County of Maui.
Key responsibilities of the Department of Finance
The Department of Finance is responsible for managing the financial affairs of the County of Maui. Within the department, the Accounts Division plays a vital role in ensuring the accuracy and transparency of the county’s financial records. Some of the key responsibilities of the Department of Finance include budgeting, revenue management, debt management, procurement, and financial reporting. By effectively managing these areas, the Department of Finance plays a critical role in the County of Maui’s fiscal stability and its ability to provide essential services to its residents.
Future implications and benefits of the award
The recognition received by the County of Maui’s Department of Finance Accounts Division has significant implications for the future. This award showcases the county’s commitment to integrity and transparency in financial reporting, instilling confidence in potential investors and stakeholders. The comprehensive financial report serves as a valuable resource for decision-making and planning, providing stakeholders with the necessary information to evaluate the county’s financial health. By upholding the highest standards of financial reporting, the County of Maui can continue to attract investment and effectively manage its financial resources to support the needs of its residents.