For 13th Consecutive Year the Port is Recognized for Excellence in Financial Reporting
[PORT HUENEME, CA – November 9, 2023] – The recognition streak continues for the 13th consecutive year! The Oxnard Harbor District was awarded a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) of the United States and Canada. This award was given to the Oxnard Harbor District, which owns the Port of Hueneme, for its Annual Comprehensive Financial Report (ACFR) for the fiscal year that ended on June 30, 2022.
“I am extremely proud of the hard-working financial team we have at the Port of Hueneme,” said Jess Herrera, President of the Oxnard Harbor District. “They have consistently demonstrated an obligation to uphold program and industry standards which is important to our stakeholders who have entrusted us to be fiscally responsible by maintaining a high level of professionalism, transparency, and experience.”
According to GFOA, the Certificate of Achievement is the highest form of recognition in the areas of governmental accounting and financial reporting. Its attainment represents a significant accomplishment by a government and its management.
“The Port team put together an ACFR highlighting FY 2022 Port activities in an easy-to-understand, 110-page report that includes information about cargo trends, market updates, environmental framework, CAPX projects, marketing, community outreach, Port statistics as well as a breakdown of financial information,” said Austin Yang, the Port’s Chief Financial and Chief Administration Officer. “It goes beyond a financial report. As the name suggests, it is a comprehensive report that took a great deal of time and effort to compile from every department in the district.”
The Port’s ACFR was thoroughly reviewed by a team of independent, industry auditors, professional financial statement preparers, academics, and other finance professionals. The Certificate of Achievement for Excellence in Financial Reporting Program encourages and assists state and local governments to go beyond the minimum requirements of generally accepted accounting principles, to prepare annual comprehensive financial reports that demonstrate the spirit of full disclosure, and to succeed in achieving that goal.
The Government Finance Officers Association was founded in 1906 and represents public finance officials throughout the United States and Canada. The association’s more than 21,000 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 government finance by providing the best practices, professional development, resources, and practical research for its members and the communities they serve.
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The Port of Hueneme is one of the most productive and efficient commercial trade gateways for niche cargo on the West Coast. Five locally elected Port Commissioners govern the Port. The Port consistently ranks among the top ten U.S. ports for automobiles and fresh produce. Port operations support the community by bringing $2.2 billion in economic activity and creating 20,032 trade-related jobs. Trade through the Port of Hueneme generates more than $173.2 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. www.portofh.org.