New Albany has received a reward recognizing excellence in financial reporting for the sixth year in a row.

New Albany has received a reward recognizing excellence in financial reporting for the sixth year in a row.

The Governmental Finance Officers Association issued a "certificate of achievement" to the village for its 2009 comprehensive annual financial report. The full report can be accessed at www.villageofnewalbany.org.

In a release last week, village administrator Joseph Stefanov said the recognition "illustrates that our council and staff take financial responsibility very seriously."

The report is not even required for a village, according to communications director Scott McAfee.

"It's required of cities," McAfee said. "Villages don't have to produce one, but it's an example of our desire for transparency."

Of course, that could change when the results of the 2010 census are certified by President Barack Obama. New Albany's growth in population is expected to push it to city status.

"Looking ahead, it won't be long before we are required to complete one," McAfee said.

McAfee said the comprehensive annual financial report also helps establish bond ratings for the village. New Albany has an Aa2 bond rating from Moody's and an AAA rating from Standard & Poor's, according to a release from McAfee.

Lori Wince