STATEHOUSE — The State of Indiana received the highest award for financial reporting for the 31st consecutive year from the Government Finance Officers Association of the United States and Canada (GFOA), announced State Comptroller Elise Nieshalla today.
GFOA awarded the Comptroller’s Office the Certificate of Achievement for Excellence in Financial Reporting for the state’s 2023 Annual Comprehensive Financial report (ACFR). The ACFR is prepared annually by the State Comptroller and audited by the State Board of Accounts.
“Indiana’s ACFR is tangible evidence of our state’s solid fiscal position and provides an accurate report of Hoosiers’ tax dollars at work,” said Comptroller Nieshalla. “I’m extremely proud of our accuracy in financial reporting – the consecutive years of accomplishment showcases our team’s talent and professionalism.”
Indiana’s ACFR is one of the main components used by the nationally recognized statistical rating organizations to review and analyze the state’s financial condition and assign a credit rating.
Indiana is one of 14 states in the nation that has earned the highest credit rating of AAA by all three independent credit rating agencies.
“The higher a state’s credit rating, the lower the cost to repay its bonds,” said Comptroller Nieshalla. “For investors, high ratings are a clear indication that Indiana can meet its financial obligations to pay both interest and principal.”
In addition to the in-depth report accounts for all the state’s financial data, the ACFR also includes other demographic, economic and statistical information.
