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DRBA Receives Prestigious Financial Reporting Award

The Delaware River and Bay Authority (DRBA) has once again been honored with the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). This recognition was awarded for the DRBA’s Annual Comprehensive Financial Report (ACFR) for the fiscal year ended December 31, 2022, marking the eighteenth consecutive year that the DRBA has received this prestigious accolade.

The individuals responsible for the development and submission of the award-winning ACFR, including Joseph Larotonda, Director of Finance, James Danna, Controller, and Michele Cleary, Senior Accountant, were recognized with the Award of Financial Reporting Achievement. Additionally, other members of the finance team who contributed to this accomplishment were acknowledged for their valuable contributions.

Despite the challenges and complexities of financial reporting, the DRBA’s Chief Financial Officer, Victor Ferzetti, expressed pride in the consistent high-quality work produced by the finance division. He emphasized the team’s dedication to ensuring the Authority’s financial information is presented in an easily understandable manner for stakeholders, highlighting the organization’s commitment to transparent and organized financial reporting.

The Certificate of Achievement is a prestigious honor in governmental accounting and financial reporting, reflecting a significant achievement by a government and its management. This program, established in 1945, encourages government agencies to exceed minimal reporting requirements by preparing and publishing a comprehensive financial report that provides a clear and detailed overview of financial activities.

Receiving this award is not only a testament to the DRBA’s commitment to transparency but also a demonstration of its dedication to communicating its financial story effectively. The report’s adherence to high standards and its emphasis on full disclosure showcase the DRBA’s willingness to engage and inform its stakeholders.

How AI legalese decoder Can Help

The AI legalese decoder can assist the DRBA in further enhancing the readability and accessibility of its financial reports. By leveraging AI-powered language processing capabilities, the Decoder can analyze and optimize the language used in the ACFR, ensuring that the report is not only compliant with regulatory requirements but also presented in a clear and easily understandable manner. This can help the DRBA continue its streak of recognition for financial reporting excellence while effectively engaging with a wide range of stakeholders.

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