RIO earns 28th consecutive financial reporting award

BISMARCK, ND – The North Dakota Retirement and Investment Office (RIO) has earned the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for its Annual Comprehensive Financial Report for the fiscal year ended June 30, 2025. This marks the 28th consecutive year the agency has earned the award.

“Earning this recognition again is a reflection of the Retirement and Investment Office’s commitment to being open and accountable,” said Executive Director Jodi A. Smith. “Our report tells the full financial story of the programs we manage, and that clarity matters to the educators and public institutions we serve.”

RIO’s report includes a detailed review of the financial, investment, and actuarial conditions of the programs it administers: the State Investment Board (SIB) and the Teachers’ Fund for Retirement (TFFR).

To receive the certificate, governments must publish financial reports that are clearly written, well-organized, and meet both generally accepted accounting principles and legal requirements. Each report is reviewed by an impartial panel to ensure it demonstrates the program’s “spirit of full disclosure,” clearly communicating the government’s financial story and motivating users to read the report. GFOA calls the certificate the highest form of recognition in governmental accounting and financial reporting.

The SIB oversees the investment of more than $29 billion, including the assets of North Dakota’s Legacy Fund, Public Employees Retirement System, TFFR, Workforce Safety and Insurance, and two dozen smaller government funds. TFFR serves more than 26,000 participants, including 9,600 active members employed by public schools and state institutions.

The GFOA established the Certificate of Achievement program in 1945 to encourage state and local governments to go beyond minimum reporting standards, fostering transparency and accountability in public finance. GFOA advances excellence in government finance for more than 28,000 members and the communities they serve.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.