Westminster recognized for comprehensive reports
News Correspondent WESTMINSTER — The town recently placed another feather in its cap after being awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada. Westminster was cited for filing comprehensive annual financial reports. The award is the highest form of recognition in the area of governmental accounting and financial reporting, and it represents a significant accomplishment for the Westminster administration. During a recent selectmen meeting, Chairman Wayne Walker talked about the certificate and what it could bring as a positive for the town’s bond rating. The association found that Treasurer/Collector Melody Smith was primarily responsible for the reporting, and presented the award in her name. Smith stated, “As the treasurer/collector for the town of Westminster, I am proud to receive this award. This award is a reflection of our efforts to promote Westminster’s financial strength and to work toward my goal of achieving a AAA bond rating.” Smith said that currently Westminster is rated AA+ by Standard and Poor’s, indicating the town has a very strong capacity to meet its financial commitments. The Certificate of Achievement for Excellence in Financial Reporting program was started in 1945 to encourage states and municipalities to go beyond the accepted government financial reporting minimum requirements, and bring transparency and full disclosure to the process. The goal of the organization is not to oversee finances, but to ensure people that information is easily available and documented so the users can oversee finances. |
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