News Release

Town of Hilton Head Island Finance Department Receives Certificate of Achievement in Financial Reporting

September 7, 2023

The Town of Hilton Head Island has recently received the Certificate of Achievement for Excellence in Financial Reporting for its annual comprehensive financial report for the fiscal year ending June 30, 2022. Presented by the Government Finance Officers Association (GFOA), this esteemed award signifies the Town's dedication to exemplary financial reporting practices.

According to a press release issued by the GFOA on August 1, 2023, the Town's financial report has undergone a rigorous evaluation by an impartial panel and meets the program's high standards. Also, the report shows the Town has demonstrated a constructive "spirit of full disclosure" to communicate its financial story and motivate potential users and user groups to read the information.

This distinguished award is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. The Town has received the Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report every year since Fiscal Year 1989. This has helped the Town achieve and maintain its strong bond ratings from third-party rating agencies, including Moody's Investor Service, Standard & Poor's, and Fitch.

"This award is a testament to the tireless efforts and dedication of our Finance Department in adhering to the rigorous guidelines established by the GFOA. Over the past 34 years, the Town has consistently strived for excellence in financial management,” said Town Manager Marc Orlando. "This award, coupled with our consistently high bond ratings, reaffirms our unwavering commitment to financial excellence."

The Fiscal Year 2022 Annual Comprehensive Financial Report offers a comprehensive financial analysis of the Town's funds, encompassing revenues and expenses, financial statements, fund balances, budgetary highlights, economic factors, insights into the upcoming fiscal year's budget, a summary of significant accounting policies, and an independent auditor's report.

To view the Town’s Annual Comprehensive Financial Reports, visit hiltonheadislandsc.gov.