GRDA honored for “excellence in financial reporting”

May 02, 2023

The cover of the 2021 GRDA comprehensive annual financial report (CAFR). The report, entitled #1GRDA, was recently recognized for achieving the highest standards of financial reporting by the Government and Finance Officers Association (GFOA). It marked the 22nd straight year a GRDA CAFR has received that honor.

Over the last two decades, the Grand River Dam Authority has established a tradition of excellence in its financial reporting efforts. In late April, it learned that tradition would continue for yet another year.

On April 28, the Government Finance Officers Association (GFOA) recognized GRDA with a “Certificate of Achievement for Excellence in Financial Reporting.” It marked the 22nd straight year GRDA has received the honor. According to GFOA, the certificate is the highest form of recognition in governmental accounting and financial reporting and “its attainment represents a significant accomplishment by a government and its management.”

“The report has been judged by an impartial panel to meet the high 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,” stated a GFOA news release.

“This recognition reflects our ongoing commitment to attain the highest standards of financial reporting, as well as the caliber and dedication of the Authority’s Finance team.” said GRDA Chief Financial Officer Lorie Gudde. “We are very pleased to receive this award from the GFOA and will continue striving to provide the best and most transparent financial information possible to our customers and stakeholders.”

GRDA received the honor for its 2021 comprehensive annual financial report (CAFR). Entitled #1GRDA, the report, compiled by the GRDA Finance and Corporate Communications Departments, can be viewed online at Every GRDA CAFR since 2001 has received this GFOA recognition.

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.

GRDA is Oklahoma’s largest public power utility; fully funded by revenues from electric and water sales instead of taxes. Each day, GRDA strives to be an “Oklahoma agency of excellence” by focusing on the 5 E’s: electricity, economic development, environmental stewardship, employees, and efficiency.