Tag: Comprehensive Annual Financial Report

City Auditor Kenny Costa on Excellence in Financial Reporting Award and more GOOD NEWS! Well done Mayor Romeo Theken Administration #GloucesterMA

Posted on by Catherine

One of many precepts for life that artist and friend, Michael Mazur, impressed upon me: make sure and celebrate life’s ta-dah moments. Here are a range of recent bright announcements and achievements in Gloucester, Massachusetts. Congratulations Mayor Romeo Theken, administration, departments, city staff — well done to all involved!

Kenny Costa, City Auditor, describes a major award for Gloucester, with Jim Destino and John Dunn at full City Council on February 13, 2019:

Gloucester receives Certificate of Achievement for Excellence in Financial Reporting

City Auditor Kenny Costa presentation to City Council about major award financial reporting_20190213_© catherine ryan

City Auditor and Jim Destino with City Council_20190213_Gloucester MA major recognition for accounting reporting

“The City issued a Comprehensive Annual Financial Report (CAFR) for Fiscal Year 2017.  The City was awarded for the first time the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) for our Fiscal Year 2017 financial audit report also known as the CAFR.  This achievement is nationally recognized and its the highest form of financial reporting.  This is a great achievement for the City and a credit to our finance team.  The preparation of the report was a total team effort.  This achievement will be favorable to the bond rating agencies.  The Finance Team is very proud of this achievement.  We’re proud to be one of only 40 communities in Massachusetts to accomplish this.” – Kenny Costa, City Auditor

You can read the full report here: Gloucester CAFR 

He expects Gloucester to make this target annually from here on.

Sampling of more recent good news:

 

  • Plans settled for YMCA at Gloucester Crossing

 

 

  • New UMASS grant from Seaport Economic Council Sean Horgan writes in the Gloucester Daily Times “The University of Massachusetts system, which includes UMass Amherst’s Gloucester Marine Station at Hodgkins Cove, received a $276,854 grant from the council to identify economic growth opportunities for the Massachusetts commercial fishing industry.”