Calling it proof of “transparency and exacting financial management,” New Bedford officials welcomed new GFOA accolades that spotlight the city’s award‑winning financial reporting and budgeting streak.
The Government Finance Officers Association recently honored New Bedford with two major awards: its Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ending June 30, 2024, and its Distinguished Budget Presentation Award for the city’s fiscal 2026 budget, according to a city announcement.
The financial reporting award is the fifth consecutive GFOA certificate New Bedford has received, while the budget award marks the 10th straight win for the city’s annual budget documents.
“These latest recognitions underscore New Bedford’s sustained commitment to transparency and exacting financial management,” Mayor Jon Mitchell said in the announcement. “It affirms that taxpayers can have confidence that public dollars are managed responsibly and in the best interest of the City.”
GFOA awards highlight best practices in government finance
The GFOA’s Certificate of Achievement for Excellence in Financial Reporting is considered the highest form of recognition in government accounting and financial reporting, according to the announcement.
New Bedford’s comprehensive financial report was reviewed by an impartial panel and found to meet the highest industry standards, including a “spirit of full disclosure,” the announcement said.
The Distinguished Budget Presentation Award recognizes budget documents that serve as effective policy, financial, operations and communications tools. New Bedford’s fiscal 2026 budget, the city’s first to be published on a digital platform, was praised by GFOA for meeting these criteria.
“These honors reinforce the City’s commitment to strong financial controls and performance, and serve to distinguish us among our peers,” Chief Financial Officer Bob Ekstrom said. “In particular, the advent of a digital budget book takes transparency to a new level by delivering information to consumers in a manner more convenient to them. To achieve this honor in our first year is a testament to the hard work and dedication of the City’s finance team.”
GFOA programs promote transparency and accountability
The GFOA established its financial reporting certificate program in 1945 to encourage state and local governments to prepare annual comprehensive financial reports that promote transparency. The budget award program was created in 1984 to encourage and assist state and local governments in preparing high-quality budget documents that reflect best practices and industry standards.
To earn the budget award, documents must meet program criteria and excel as a policy document, financial plan, operations guide, and communication tool, according to the announcement.
This story was created by Dave DeMille, ddemille@gannett.com, with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. Learn more at cm.usatoday.com/ethical-conduct.
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