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General Press Releases

Port of San Diego Awarded Certificate of Achievement for Excellence in Financial Reporting

The Port of San Diego has once again been awarded with the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA). This is the ninth consecutive year that the Port has received this honor which is considered the highest form of recognition in governmental accounting and financial reporting. 

“Receiving this award shows that the Port of San Diego is fully committed to accountability and financial responsibility,” said Chairman Rafael Castellanos, Port of San Diego Board of Port Commissioners. “I am grateful for the GFOA’s recognition of the hard work of our Financial Services Department, and all Port employees, that have a hand in ensuring a transparent financial review and reporting process. The public trusts the Port to be stewards of their tidelands and bayfront, and this report shows their trust is not misplaced.”

To receive a Certificate of Achievement, a government agency must publish an easily readable and efficiently organized Annual Comprehensive Financial Report that satisfies both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year.  

The Port received the award for the last fiscal year’s annual comprehensive financial report which ended on June 30, 2022.  This report was judged by an impartial panel to meet the 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 report. 

The Port underwent a rigorous reporting process that included review by the GFOA Special Review Committee, a group made up of individuals with expertise in all aspects of public sector financial reporting, including financial statement preparers, independent auditors, academics, and other finance professionals. The Port’s report was then reviewed using a checklist designed to determine compliance with generally accepted accounting principles and GFOA program policy. 

GFOA advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve.  

About THE Port of San Diego

The Port of San Diego serves the people of California as a specially created district, balancing multiple uses on 34 miles along San Diego Bay spanning five cities. Collecting no tax dollars, the Port manages a diverse portfolio to generate revenues that support vital public services and amenities.

The Port champions Maritime, Waterfront Development, Public Safety, Experiences and Environment, all focused on enriching the relationship people and businesses have with our dynamic waterfront. From cargo and cruise terminals to hotels and restaurants, from marinas to museums, from 22 public parks to countless events, the Port contributes to the region’s prosperity and remarkable way of life on a daily basis.