Indiana has achieved the top honor in governmental financial reporting, announced State Comptroller Elise Nieshalla today. The Government Finance Officers Association of the United States and Canada (GFOA) has awarded Indiana the Certificate of Achievement for Excellence in Financial Reporting for the State’s Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2025.
“Indiana’s fiscal strength is matched by the quality of our financial reporting,” said Comptroller Elise Nieshalla. “Receiving this award speaks to the precision, rigor and dedication our team brings to executing the accounting of the State’s finances.”
The Certificate of Achievement represents the highest form of recognition in governmental accounting and financial reporting, marking a significant accomplishment for both the State and the Comptroller’s Accounting and Reporting Team. It reflects the impartial judgment of a national review panel and recognizes the State’s continued dedication to clear, comprehensive disclosure of its finances.
Indiana has maintained AAA credit ratings from Fitch Ratings, Moody’s Investors Service, and S&P Global Ratings, underscoring the State’s resilient financial position and its consistent track record of prudent budgeting, disciplined management and accurate financial reporting. The State continues to hold one of the strongest fiscal positions in the nation, supported by well-funded pensions, healthy cash reserves and being the fourth-lowest debt per capita state.
Prepared annually by the State Comptroller’s Office and audited by the Indiana State Board of Accounts, the ACFR provides a transparent, comprehensive account of the State’s finances, including financial statements, demographic and economic data, and statistical analyses designed to help policymakers, analysts and the public fully understand Indiana’s fiscal condition.
To view the 2025 ACFR, click here.
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