Financial Statements and Governance

The financial statements of the Connecticut Green Bank are compiled through an accounting staff and independently audited by certified public accountants. The powers of the Connecticut Green Bank are exercised by a Board of Directors. Information on both financial statements and governance are presented below.

Financial Statements

The Connecticut Green Bank presents it financial activity in two ways – Comprehensive Annual Financial Report (CAFR) and an Annual Report.

Comprehensive Annual Financial Report (CAFR) – compiled by the accounting staff of the Connecticut Green Bank and audited by an external certified public accounting firm in accordance with generally accepted accounting principles.. A CAFR submitted to the Government Finance Officers Association (GFOA) which is awarded Certificate of Achievement for Excellence in Financial Reporting represents the highest award in government financial reporting. Included in the CAFR are the public benefits estimated to have been achieved through the Connecticut Green Bank’s use of its financial resources.

For historical audited financial statements – click here.

Auditors of Public Account

The office of the Auditors of Public Accounts (APA) is a legislative agency of the State of Connecticut whose primary mission is to conduct audits of all state agencies, including quasi-public agencies. Included in such audits is an annual Statewide Single Audit of the State of Connecticut to meet federal requirements. The office is under the direction of two state auditors appointed by the state legislature. The APA audited certain operations of the Connecticut Green Bank in fulfillment of its duties under Sections 1-122 and Section 2-90 of the Connecticut General Statutes.

Open Connecticut

Open Connecticut centralizes state financial information to make it easier to follow state dollars. In Connecticut quasi-public agencies are required to submit annual reports to the legislature, including a summary of their activities and financial information.  In addition, the comptroller’s office requested that quasi-public agencies voluntarily provide checkbook-level vendor payment data for display on Open Connecticut.  The Connecticut Green Bank has voluntarily submitted this information since the inception of Open Connecticut. To access this information, click here

Annual Report – compiled by the marketing staff of the Connecticut Green Bank. The Annual Report includes consolidated financial statement information and narratives of various program achievements in a condensed format that can be widely distributed.

For historical annual reports – click here.

Governance

The powers of the Connecticut Green Bank are vested in and exercised by the Board of Directors each with knowledge and expertise in matters related to the purpose of the organization. The Board of Directors is governed through Section 16-245(n) of the Connecticut General Statutes, and exercised through the following:

 

For a link to the Board of Director meetings – click here.

For a link to the Committee meetings – click here.