OLYMPIA — The Washington State Department of Labor & Industries has received national recognition for its annual financial report on the financial state of workers’ compensation funds.
The Government Finance Officers Association of the United States and Canada (GFOA) recently awarded its Certificate of Achievement for Excellence in Financial Reporting to L&I for its Comprehensive Annual Financial Report (CAFR).
“This award represents a five-year effort to improve credibility and transparency in our reporting on the Workers’ Compensation Program,” said L&I Director Judy Schurke. Over the past five years, Schurke noted, the State Auditor has issued an unqualified (clean) opinion on the program’s basic financial statements.
The GFOA describes the award as “the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.”
Of particular importance to the GFOA was the CAFR’s “Constructive ‘spirit of full disclosure’ to clearly communicate its financial story.”
Source: WA L& I