News Flash

Home

Posted on: April 24, 2018

PORT RECEIVES HIGHEST REWARD FOR FINANCIAL REPORTING

L-R Rodger Reese, Port Director/CEO, Mark Murchison, Finance Director, E.L.

L-R: Rodger Rees, Port Director/CEO, Mark Murchison, Finance Director, E.L. "Ted" O'Rourke, Chairman 

Galveston, TX (April 24, 2018) –The Board of Trustees of the Galveston Wharves (Port of Galveston) was recently awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The Certificate of Achievement is 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.


The certificate is awarded to the individual, department or agency designated to prepare the comprehensive annual financial report for a government unit. The award was presented to Mark Murchison, the Port’s Finance Director and the Financial Reporting Group at today’s Board meeting.


The Port has received this achievement award for 24 consecutive years. “Without the continuing hard work and dedication of an exceptional team, it would be difficult to achieve this honor since the CAFR is a product of the accounting work that the finance department does throughout the year. The award is a testament to the department’s dedication to fiscal responsibility and sound financial management, “said Rodger Rees, Port Director and CEO.


The CAFR was judged by an impartial review panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.


About the Port of Galveston

The Port of Galveston is the region’s gateway to the Gulf for cruise ships and international trade. Located at the entrance to Galveston Bay, the Port leases and maintains facilities on both Galveston Island and Pelican Island. The Galveston Island operations are a diversified mix of cargo including roll-on/roll-off cargo, dry bulk, export grain, refrigerated fruit, general cargo, and project cargo. In addition, the Port handles over 1.8 million cruise passenger movements annually. The Port’s Pelican Island facilities comprise a combination of undeveloped property, an active ship and rig repair facility, and liquid bulk operations. The Port is a self-supporting enterprise utility with operating revenues of approximately $34 million. It does not rely on tax dollars for operations.

###

Facebook Twitter Google Plus Email