Indiana receives highest award for financial reporting for the 30th year

STATEHOUSE — The State of Indiana received the highest award for financial reporting for the 30th consecutive year from the Government Finance Officers Association of the United States and Canada (GFOA), announced State Comptroller Tera Klutz, CPA today.

GFOA awarded the Comptroller’s Office the Certificate of Achievement for Excellence in Financial Reporting for the state’s 2022 Annual Comprehensive Financial report (ACFR). The ACFR is prepared annually by the State Comptroller and audited by the State Board of Accounts.

“The Certificate of Achievement from the GFOA is the highest form of recognition in governmental accounting and financial reporting, and a huge accomplishment by our team,” said Comptroller Klutz. “Year after year, Indiana continues to showcase our talent for responsible and accurate reporting.”

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 13 states that currently has an AAA rating.

“AAA is the best you can get,” added Comptroller Klutz, “and it may not mean much to the average citizen, but it does have an impact on their wallet.” The higher a state’s credit rating, the lower the cost to repay its bonds. For investors, meanwhile, high ratings are a clear indication that Indiana can meet its financial obligations to pay both interest and principal.

The in-depth report accounts for all the state’s financial data for all of Indiana’s funds. The report also includes other financial, demographic, economic and statistical information.

To view the 2022 ACFR and previous reports, click here.