The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to Central Midlands Regional Transit Authority (The COMET) for its comprehensive annual financial report (CAFR) for the fiscal year which ended June 30, 2019.
The CAFR was judged by an impartial panel to meet the high standards of the 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 CAFR.
Although this is the third consecutive year that The COMET has received commendation on its financial audits, this is the second consecutive year that it was awarded a Certificate of Achievement for Excellence in Financial Reporting.
“We are excited and grateful that our diligence in being good stewards of the Richland Penny and our other funding streams has been recognized with this prestigious honor,” said John Andoh, Executive Director/CEO of The COMET. “We take the public trust to heart and make every effort to be meticulous in handling our funding responsibly and with transparency.”
In addition to receiving funding from the Richland Penny Tax, The COMET receives funds from the federal government, local grants and passenger fares.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.