Yonkers: CITY OF YONKERS AWARDED HIGHEST ACHIEVEMENT IN GOVERNMENTAL ACCOUNTING AND FINANCIAL REPORTING
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YONKERS, NY ~ Yonkers Mayor Mike Spano proudly announced today that the City of Yonkers has been awarded the prestigious Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). This recognition is a testament to the city's commitment to transparency and sound financial management.

The GFOA's Certificate of Achievement is considered the highest form of recognition in governmental accounting and financial reporting. It is only awarded to governments that demonstrate exceptional standards in their annual comprehensive financial reports. Yonkers' report for the fiscal year ending on June 30, 2024, was judged by an impartial panel to meet these high standards.

Mayor Spano praised the city's finance team, led by Commissioner John Liszewski, for their hard work and dedication in achieving this award. He credited them for putting Yonkers back on track towards fiscal stability. The mayor also highlighted the team's efforts in maintaining strong bond ratings, which further validate their transparent and diligent work in supporting the city and its residents.

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Commissioner Liszewski expressed his pride in receiving this recognition from GFOA. He stated that it reflects his department's unwavering commitment to transparency, accountability, and high standards in public financial management. He also emphasized that this achievement underscores their efforts to provide clear, comprehensive, and trustworthy financial information to residents, stakeholders, and policymakers.

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (COA) in 1945 with a goal to encourage state and local governments to go beyond minimum requirements and provide comprehensive financial reports that promote transparency and full disclosure. The program does not assess a government's financial health but aims to ensure that users of their financial statements have all necessary information to make informed assessments themselves.

With over 25,000 members, GFOA is dedicated to advancing excellence in government finance by providing best practices, professional development opportunities, resources, and practical research. The association's recognition of the City of Yonkers' financial reporting is a testament to the city's commitment to upholding these standards and serving its community with integrity.

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