A Decade of Excellence Port Wins 10th Consecutive Award for Excellence in Financial Reporting

PORT HUENEME, October 13, 2020 – For the tenth consecutive year, the Oxnard Harbor District, which owns the Port of Hueneme, is being recognized for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). The award highlights the Port’s FY2019 Comprehensive Annual Financial Report (CAFR) which was strenuously reviewed by professional financial statement preparers, independent auditors, academics, and other finance professionals.

“As a public agency, we have a duty to be transparent with our constituents, this continued recognition shows we hold this responsibility with the upmost importance,” stated Jess Ramirez, Oxnard Harbor District President.

“Our Port takes pride in our fiscal responsibility and serving our residents with the highest standards of prudent and thorough record keeping and open and transparent financial reporting,” said Andrew Palomares, the Port’s Deputy Executive Director & CFO/CAO. “It is an honor to receive our tenth consecutive award, an affirmation of the commitment our Commissioners and dedicated staff have to the integrity of our work.”

According to GFOA, “The CAFR has been 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 its financial story and motivate potential users and user groups to read the CAFR.”

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to “encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.”

View the Port’s award-winning CAFR by clicking here.

The Government Finance Officers Association (GFOA), founded in 1906, represents public finance officials throughout the United States and Canada. The association’s more than 20,000 members are federal, state/provincial, and local finance officials deeply involved in planning, financing, and implementing thousands of governmental operations in each of their jurisdictions. GFOA’s mission is to advance excellence in public finance. GFOA has accepted the leadership challenge of public finance. To meet the many needs of its members, the organization provides best practice guidance, consulting, networking opportunities, publications including books, e-books, and periodicals, recognition programs, research, and training opportunities for those in the profession.

The Port of Hueneme is one of the most productive and efficient commercial trade gateways for niche cargo on the West Coast. The Port is governed by five locally elected Port Commissioners. The Port moves $9.5 billion in goods each year and consistently ranks among the top ten U.S. ports for automobiles and fresh produce. Port operations support the community by bringing $1.7 billion in economic activity and creating 15,834 trade-related jobs. Trade through the Port of Hueneme generates more than $119 million in direct and related state and local taxes, which fund vital community services. In 2017, the Port of Hueneme became the first port in California to become Green Marine certified and was voted the Greenest Port in the U.S. at the Green Shipping Summit. 

 


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