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Indiana honored for transparency in financial reporting

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Title page of Indiana's 2016 CAFR

INDIANAPOLIS — A beach read it is not, but Indiana's 286-page Comprehensive Annual Financial Report once again has been recognized as one of the most easily readable and efficiently organized state audits in the country.

The Government Finance Officers Association has awarded Indiana its Certificate of Achievement for Excellence in Financial Reporting for the state's accounting of its finances during the 2016 budget year — the 24th consecutive year Indiana has been honored.

"This recognition tells Hoosiers that their government is committed to transparent and honest accounting," said State Auditor Tera Klutz.

The annual financial report, compiled by the auditor and the State Board of Accounts, details all the money taken in and spent by Indiana in every account over the past year.

It also lists financial, demographic, economic and statistical information about Indiana that credit rating agencies use to evaluate the risk of lending money to the state.

Indiana currently has the highest possible credit rating: "AAA."

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