Oyster Bay Town Supervisor Joseph Saladino announced that the Town received a Certificate of Achievement for Excellence in Financial Reporting. The recognition, awarded by the Government Finance Officers Association of the United States and Canada (GFOA), is the highest form of recognition in the area of governmental accounting and financial reporting. The Town was praised for its annual comprehensive financial report, and is the only town in the “Large Municipal” category to win the award nationwide.

 

“This award represents a significant accomplishment by our Town and the way we have managed our finances,” said Supervisor Saladino. “Since taking office, my administration has eliminated $44 million in deficits inherited from the prior administration while producing budget surpluses and earning 9 credit rating upgrades from Wall Street – all while cutting property taxes and repaving more roads than ever before! We’re proud to earn this recognition and will continue practicing fiscal restraint to protect taxpayers.”

 

The Town’s financial report is judged by an impartial panel to meet the high standards of the GFOA program, which includes demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate its financial story and motivate potential users and user groups to read the report. The GFOA, founded in 1906, represents public finance officials throughout the United States and Canada deeply involved in planning, financing and implementing thousands of governmental operations in each of their jurisdictions. GFOA’s mission is to advance excellence in public finance.