DRBA awarded excellence in financial reporting

NEW CASTLE – The Government Finance Officers Association of the United States and Canada (GFOA) awarded Delaware River and Bay Authority (DRBA) with the Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended December 31, 2022. The DRBA has now earned this recognition for eighteen consecutive years.

The individuals primarily responsible for developing and submitting the award-winning ACFR, Joseph Larotonda, Director of Finance, James Danna, Controller, and Michele Cleary, Senior Accountant were recognized with the Award of Financial Reporting Achievement. Other members of the finance team who worked on this submission include Ginger Gould, Manager of Financial Operations and Revenue Audit, Senior Accountant Monica Creamer, Accountants Camille Dinon and Anik Yetter, and Accounting Specialists Michele Huneycutt, Christopher Juliano and Joshua King.

“I am extremely proud of the consistent year-to-year work product delivered by the finance division and how they support and account for the financial activities of the entire organization,” DRBA Chief Financial Officer Victor Ferzetti said in a statement. “Every year, our goal is to produce the Authority’s financial information in an easily readable and organized manner for our stakeholders. We’re proud once again to be recognized with this prestigious award.”

The Certificate of Achievement 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 program was established in 1945 to encourage state and local government agencies to go beyond meeting minimal reporting requirements and by preparing and publishing an easily readable and understandable annual comprehensive financial report covering all funds and financial transactions of the government during the fiscal year.

The award determination is made after an impartial panel deems the report meets its high standards, 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.