FOR IMMEDIATE RELEASE
SACRAMENTO – For the sixth time, the California Infrastructure and Economic Development Bank (IBank) Board has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA).
The award was given based on IBank’s comprehensive annual financial report (CAFR). The CAFR was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate IBank’s financial story in hopes of motivating more people to review the document.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
“IBank does incredible work to help finance economic development projects throughout the state, yet it’s just as important for our staff to be transparent and diligent with the reporting functions,” Acting Executive Director Nancee Robles said. “It’s an honor for IBank to have earned this award a sixth time and that speaks to the effort of our staff to fully represent what we do each year.”
About the California Infrastructure and Economic Development Bank
IBank was created in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy and improve the quality of life in California communities. IBank is located within the Governor’s Office of Business and Economic Development and is governed by a five-member Board of Directors. IBank has broad authority to issue tax-exempt and taxable revenue bonds, provide financing to public agencies, provide credit enhancements, acquire or lease facilities, leverage State and Federal funds and provide loan guarantees and other credit enhancements to small businesses. Find more information on our website.
Gabrielle Stevenson
Public Information Officer
Email Gabrielle, HERE
