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Released: 6/21/2023
30 Years of Financial Excellence
DRPA & PATCO recognized for longstanding record of financial transparency and reporting
The Delaware River Port Authority (DRPA) has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). The award recognizes the DRPA’s annual comprehensive financial report for the fiscal year ending December 31, 2021.
The national award marks the 30th consecutive year that the DRPA has been recognized for its financial transparency. It is the highest form of recognition in governmental accounting and financial reporting and its attainment represents a significant accomplishment by a government and its management.
"The DRPA prides itself on fiscal responsibility, including accurate accounting and reporting of its finances," said James M. White, DRPA Chief Financial Officer. "DRPA’s financial stewardship, transparency, and hard work have resulted in us winning this prestigious award for the 30th year in a row."
John T. Hanson, DRPA Chief Executive Officer, echoed CFO White’s comments: "We prioritize financial responsibility as part of our stewardship mission. Our team’s dedication, integrity, and hard work have led to us being recognized for three decades, and we are proud of this achievement."
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
An impartial panel judged DRPA’s latest comprehensive financial annual report and determined it met the high standards of the program, which included demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivating potential users and user groups to read the report.
"We hope that [DRPA’s] example will encourage other government officials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting," said Michele Mark Levine, GFOA Director of Technical Services.
To view DRPA’s award-winning 2021 Annual Report and previous reports, click here.
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