The Delaware River and Bay Authority (DRBA) has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada. This is the 18th consecutive year that the DRBA has received this recognition. The award is given to government agencies that go above and beyond minimal reporting requirements by producing an easily readable and understandable annual comprehensive financial report. The report must cover all funds and financial transactions of the government during the fiscal year and demonstrate a “spirit of full disclosure” to clearly communicate its financial story. The DRBA’s finance team, led by Joseph Larotonda, Director of Finance, James Danna, Controller, and Michele Cleary, Senior Accountant, were specifically recognized for their work on the report.
The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in governmental accounting and financial reporting. It represents a significant accomplishment by a government and its management. The DRBA’s consistent receipt of this award demonstrates their commitment to producing high-quality financial reports that are easily understandable for stakeholders. The DRBA Chief Financial Officer, Victor Ferzetti, expressed pride in the finance team’s work and their ability to support and account for the entire organization’s financial activities.
The DRBA is responsible for the operation and maintenance of several transportation facilities, including the Delaware Memorial Bridge, Cape May-Lewes Ferry, and Delaware City-Salem Ferry. Their commitment to excellence in financial reporting demonstrates their dedication to transparency and accountability in managing their finances.
