LANSING — The Office of Financial Management within the State Budget Office was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association for their work on the 2016 Comprehensive Annual Financial Report.

“Receiving this award is a significant achievement that represents the highest form of recognition in governmental accounting and financial reporting,” said Mike Moody, director of the office of financial management. “We are honored to have been recognized by such a reputable organization.”

The CAFR, which consists of a set of financial statements prepared in accordance with generally accepted accounting principles, was assessed by an impartial panel of judges from the multi-national association. The organization grades various criteria including the commitment to full disclosure and the ability to clearly communicate the state’s financial story.

“The Office of Financial Management has consistently proven to be a responsible, trusted source for state financial and statistical data,” said State Budget Director Al Pscholka. “This award provides validation that we should take great pride in the financial reporting we do here in Michigan. I am proud of the great work that is being done by our team of professionals within OFM.”

The Government Finance Officers Association established the Certificate of Achievement for Excellence in Financial Report in 1945 to encourage and assist states and provinces to go above and beyond their reporting requirements for the “spirit of transparency.” More information on the program, as well as a list of awarded participants, can be found on their website at .gfoa.org.