PHOTO BY PAULA MULLER
Marblehead’s Finance Director and Town Accountant Alison Nieto looking over papers in her office.
BY GAYLA CAWLEY
MARBLEHEAD — Marblehead has been recognized for its excellence in financial reporting.
The certificate of achievement for Excellence in Financial Reporting was awarded to the town by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for fiscal year 2015.
It is the highest form of recognition in the area of governmental accounting and financial reporting. An award for financial reporting achievement was given to Alison Nieto, finance director, for preparing the CAFR.
The win continues a tradition for Marblehead. It has been recognized for excellence in financial reporting for 12 consecutive years.
This the first time Nieto, who was hired as finance director last year, has been recognized.
For the previous 11 years, it was presented to Town Administrator John McGinn, the former finance director.
“The town is obviously very proud of being able to achieve that for the past 12 years,” McGinn said.
Fewer than 30 Massachusetts cities and towns received the certificate last year, McGinn said. This year’s results have not been posted and a GFOA representative could not be reached for comment.
The CAFR is the town’s year-end financial statement, and includes assets, liabilities, payables, long-term debt, major pieces, revenue and expenses, Nieto said. The financial report is audited by an independent firm before being reviewed by a GFOA panel.
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 acceptable accounting principles to prepare comprehensive financial reports. The reports were meant to show transparency and full disclosure, with governments reaching that goal recognized, according to the GFOA website.
Nieto said she wasn’t surprised by the town receiving the award again. When she was hired, she said the first thing on McGinn’s mind was the town continuing its run of being recognized for financial reporting.
“We just established a really great framework for this financial report and submitting it for yearly review,” Nieto said.
Gayla Cawley can be reached at [email protected]. Follow her on Twitter @GaylaCawley
