The Retirement Board is committed to providing MBTA Retirement Fund members, retirees and the general public with transparency into its accounting and financial reporting, and is pleased to announce that the MBTA Retirement Fund’s annual comprehensive financial report for the fiscal year ended December 31, 2022 was awarded the Government Finance Officers Association’s (GFOA) Certificate of Achievement for Excellence in Financial Reporting (the Certificate of Excellence) on January 10, 2024. The MBTA Retirement Fund’s Finance Department was also presented with the GFOA’s Award of Financial Reporting Achievement because of its role in earning the Certificate of Excellence.
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure and then to recognize those that succeed in achieving the goal. The GFOA describes the Certificate of Excellence as the “highest form of recognition in governmental accounting and financial reporting.” The Retirement Board is proud to report that this is the seventh consecutive year the MBTA Retirement Fund’s financial reporting has been recognized with the Certificate of Achievement for Excellence in Financial Reporting.
