WALNUT CREEK, CA – For the third year in a row, the Contra Costa Transportation Authority (CCTA) has been granted the highest form of recognition in the area of governmental accounting and financial reporting.
The Government Finance Officers Association of the United States and Canada (GFOA) has honored CCTA with the Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report (CAFR) for the year ending June 30, 2014. This honor represents a significant accomplishment by CCTA, its Board of Commissioners, and staff.
The agency has long exemplified and been committed to executing excellent practices in financial management of taxpayer dollars. Since its inception, CCTA has capped administrative costs at one percent of its budget annually. Additionally, CCTA has successfully leveraged local, regional, and federal funding sources to complement the half-cent sales tax the agency invests in local transportation infrastructure and programs.
Over the past year, CCTA’s prudent management of public dollars has helped ensure delivery of important transportation improvements – including new bicycle lanes and walking trails, the Caldecott Tunnel’s Fourth Bore and key improvements to Highway 4 – that are meaningfully enhancing the quality of life for Contra Costa residents. The agency has made a significant commitment in recent years to further increase transparency in its operations through voluntary annual audits, which accompany audits performed by the state and federal government.
“CCTA is proud to once again receive recognition by the Government Finance Officers Association for excellence in financial reporting” stated Executive Director Randy Iwasaki. “Our Board and staff are deeply committed to serving as responsible stewards of taxpayers’ dollars and are truly honored by this recognition of our work.”
The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals. An impartial panel convened by the GFOA chose CCTA for the Certificate of Excellence in Financial Reporting Award because the agency’s financial reports demonstrate a constructive “spirit of full disclosure” and are readable and interesting to diverse readers.
About The Contra Costa Transportation Authority
The Contra Costa Transportation Authority (CCTA) is a public agency formed by Contra Costa voters in 1988 to manage the county’s transportation sales tax program and oversee countywide transportation planning efforts. CCTA is responsible for planning, funding and delivering critical transportation infrastructure projects and programs that connect our communities, foster a strong economy, increase sustainability, and safely and efficiently get people where they need to go. CCTA also serves as the county’s designated Congestion Management Agency, responsible for putting programs in place to keep traffic levels manageable. More information about CCTA can be found online at www.ccta.net.
