SPRINGFIELD, ILLINOIS --The Springfield Airport Authority has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2025.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. Its attainment represents a significant accomplishment by a government entity and its management. The 2025 award marks the 23rd consecutive year the Springfield Airport Authority has received the prestigious GFOA recognition. The uninterrupted record reflects more than two decades of the Airport Authority’s commitment to sound financial management, transparency, accountability and responsible stewardship of public resources.
“One of the Springfield Airport Authority’s core principles is to be enterprising. Our ACFR reflects our continued commitment to an entrepreneurial and industrious spirit while maintaining the highest standards of financial accountability, transparency and fiscal
responsibility,” said Frank J. Vala, Chair of the Springfield Airport Authority Board of Commissioners.
“Receiving this recognition for 23 consecutive years is particularly meaningful because it represents much more than the quality of a single financial report. It demonstrates a long-term commitment by the Airport Authority Board of Commissioners and its staff to responsible financial stewardship and to providing the taxpayers, our communities and the public with clear and reliable information about the financial health of their airport,”Vala said.
To receive the Certificate of Achievement, a government entity must publish an easily readable and efficiently organized annual comprehensive financial report that conforms to the high standards established by the GFOA’s program. The report must meet applicable Generally Accepted Accounting Principles (GAAP) and applicable legal requirements.
The Springfield Airport Authority’s 2025 ACFR was reviewed by an impartial panel and judged to meet the high standards of the GFOA program. Among those standards is demonstrating a constructive “spirit of full disclosure” that clearly communicates an organization’s financial story and encourages potential users and user groups to read and understand the report.
Vala credited the Airport Authority’s staff for maintaining those standards while managing the financial and operational challenges facing the aviation industry. “An airport is a long-term community asset, and responsible stewardship requires us to look beyond any single budget year. It means making sound decisions today that protect the Airport Authority’s financial position and preserve the airport’s ability to serve the region for years to come,” Vala continued. “The fact that we have earned this recognition for 23 consecutive years is a testament to that philosophy. I am extremely proud of our staff and the consistent professionalism they bring to the management of this important public asset.”
The Government Finance Officers Association advances excellence in government finance by providing best practices, professional development, resources and practical research to more than 25,000 members and the communities they serve.
ABOUT ABRAHAM LINCOLN CAPITAL AIRPORT
Abraham Lincoln Capital Airport was named the 2020 Primary Airport of the Year by the Illinois Department of Transportation. According to a 2021 IDOT Economic Impact Study, Abraham Lincoln Capital Airport generates $370.8 million in annual economic output for the local economy and supports approximately 2,630 jobs. The airport is home to a diverse group of major aviation, governmental and educational tenants, including the Illinois Air National Guard’s 183rd Wing, StandardAero, the Illinois Department of Transportation’s Division of Aeronautics, Lincoln Land Community College’s LRS Aviation Maintenance Training Center, the Illinois Army National Guard and Stellar Aviation. The airport’s passenger terminal is also home to the Passenger Service Center and Sky Club, a membership-based club providing additional amenities and benefits for frequent travelers. Commercial passenger air service currently includes daily service to Chicago on American Airlines, as well as service to Fort Myers/Punta Gorda, Florida, on Allegiant and Orlando International Airport on Breeze Airways. For more information, visit www.FlySPI.com or contact the Passenger Service Center at 217-788-9200