Caltrain Receives Award for Financial Report

In addition to operating a popular rail line, Caltrain staff also works hard to ensure that the public understands its financial accounting procedures. The agency's efforts have paid off. The Government Finance Officers Association of the United States and Canada recently awarded Caltrain a certificate of achievement for its Comprehensive Annual Financial Report for fiscal year 2001.

The Certificate of Achievement for Excellence in Financial Reporting is a prestigious honor in the area of government accounting and financial reporting.

"As a public agency, a very high emphasis is placed on clear financial reporting," said Roger Contreras, chief financial officer. "The financial reporting achievement represents the importance we place on that responsibility."

"There are benefits to being recognized by the GFOA for financial reporting," said Stanley Arend, director of accounting. "The certificate raises our overall credibility with the financial agencies responsible for our bond ratings."

The CAFR is judged on how well its information is communicated to a general audience.

The Government Finance Officers Association is a nonprofit professional association serving approximately 14,000 government finance professionals with offices in Chicago and Washington, D.C.