Supervisor Kate Murray announced that Hempstead Town has once again earned the Excellence in Financial Reporting Award, the highest municipal budgeting honor, given by a renowned group of independent accounting professionals. It is the eighth consecutive year that Hempstead Town, led by the Murray administration, has received the honor awarded annually by the independent , non-partisan Government Finance Officers Association (GFOA). The Excellence in Financial Reporting Award is the highest distinction in the area of governmental accounting and financial reporting.
“I am very pleased that the town was once again recognized by the independent accounting professionals of the GFOA,” Murray said. “This award is a testament to our dedication to the highest standards of accountability, transparency and forthrightness in fiscal reporting.”
The GFOA issued the award upon receiving Hempstead Town’s Comprehensive Annual Financial Report (CAFR) for the 2010 fiscal year. According to GFOA, the CAFR was judged by an impartial panel to meet the high standards of the program, which includes transparency, accountability and honesty in financial reporting.
“Being honored by the GFOA for the eighth consecutive year is quite an achievement,” said Hempstead Town Comptroller Kevin Conroy. “The award is a tribute to both the leadership and work ethic of Supervisor Kate Murray.”
The award comes on the heels of Murray’s tax-freeze budget for 2012, which, in addition to holding the line on all town taxes, maintains all town programs and services. As other governments are axing vital programs and jobs, Hempstead Town continues to offer the same array of quality services for residents. Additionally, Murray’s administration is stimulating the economy through development projects and is enhancing the local infrastructure through its ongoing capital improvement program.
Wall Street’s top credit rating agencies continually recognize Hempstead Town’s fiscal prowess, assigning the township with the highest credit ratings available. Controlling costs and steering clear of fiscal gimmicks, such as overreliance on “one-shot” (non-recurring) revenues are two of the many practices that assist the town in reaching its budgetary goals.
“While other governments are slashing vital programs, the Town of Hempstead is maintaining its array of life-enhancing services for residents while holding the line on taxes,” Murray said. “Gaining continued respect from the top Wall Street credit rating agencies enables us to continue providing those integral services for our residents.”