For Flatto’s Department, An Achievement In Financial Reporting

Flatto
For Ken Flatto, a thumbs-up for financial reporting.

It’s not exactly sexy work, and often dizzying crunching budget numbers trying to explain to community watchdogs and City Council members what the financial documents mean. Finance Director Ken Flatto’s department has been awarded, among other U.S. municipalities, the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association for the Comprehensive Annual Financial Report for Fiscal Year 2017 completed in January 2018.

Citizen fiscal scrutineer John Marshall Lee, who has tangled with Flatto over financial transparency, may be nonplussed by this award. Flatto, however, and a direct staff of more than a dozen working finance, revenues, banking and accounts payable are thankful for the acknowledgement from a government industry body.

“I am thankful for this award of achievement,” says Flatto. “It truly means a lot to me and my department. This award goes to show that hard work does pay off.”

Flatto had served for more than a decade as first selectman of Fairfield. Prior to his election as first selectman, Flatto was the chief financial officer for Orangetown, NY, and comptroller and deputy commissioner for the City of Yonkers, NY. Flatto is a licensed certified public accountant. He received his MBA from Cornell University.

In March of 2011, Governor Dan Malloy appointed Flatto executive director of the Division of Special Revenue responsible for managing various special revenues and for regulating legalized gaming in the State of Connecticut. Flatto moved on from that position after eight months to take a position with the Jewish Home for the Elderly.

In 2012 Flatto moved to Bridgeport and joined the city’s Finance Department in a consulting capacity a few days a week during the Bill Finch mayoral years. In 2015, however, Flatto served as a policy adviser on Joe Ganim’s comeback campaign for mayor. After Ganim defeated Finch in a primary on his way to a general election victory, Ganim appointed Flatto finance director. In that role Flatto also oversees the tax and assessor departments.

The Government Finance Officers Association is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL and Washington, D.C.

Flatto’s department received proficient grades in several categories including governmental and proprietary fund financial statements as well as government-wide financial statement, statistical section and formatting. See more on that here.

The Certificate of Achievement for Excellence in Financial Reporting Program was established in 1945 to “encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.”

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7 comments

  1. I would put up Board of Education CFO Marlene Seigel up against Ken Flatto any day of the week. Marlene can run circles around both Ken Flatto & Nestor on every aspect of finances.

    She knows where every penny is and rigorously controls every expenditure. Her financial reports are understandable, accurate and detailed and created with incredible detail and color-coding.

    I don’t agree with her on everything, however I have never questioned her competence.

    The only other gripe I have is she NEVER answers a yes or no question with a “yes” or a “no”. Marlene will give you a lengthy dissertation instead.

    In my eight (8) years involved with the Board of Education we have not had a more competent CFO. That includes Ben Barnes who became Malloy’s OPM.

    Bobby Simmons always thought Mr. Norko was very competent as well. That is a HUGE compliment from Bobby Simmons. Mr. Norko lives in the Thomas Hooker precinct and we always chat at the polls, however I never had an opportunity to work with him as the BOE CFO.

  2. *** Mr. Flatto is there to do a job & does it quite well! Big Up’s to Mr.Flatto for doing the job first & not just playing the political favorites to keep his job! He can move-up in his job field anytime, any place, with his past jobs resume’s, no? ***What Say You?***

  3. The City’s budget office has received this award before.

    The budget may be explained to the city council but it is questionable if they comprehend it.
    All in favor? Aye. Everyone have their debit cards?

    Comprehension of budget elements is the realm of budget watchdog JML.

  4. Transparency in financial reporting? Is it news because it is in Bridgeport? And it is so transparent that neither the Mayor, the City Council as a whole, or the Budget and Appropriations Committee, or the Finance Office believe that there would be any interest in holding info sessions when the Annual Financial Audit for the previous annual City budget is made public. And that is a fact not a question. Surely for those who look at the CAFR each year questions arise. Where, Mayor Joe, do they get an answer???

    Ganim2 was at ABCD within the past 10 days alerting folks to programs for heating residences as the temperature drops. Probably on the news for that too?? How about putting all complaints from City residents as well as those in Park City Community housing on the same automated system? Response times? Repair of complaints? What part of City is poorly served?? Maybe TV time alerting all who see Channel 12 to focus would work wonders? Or not?
    TIME WILL TELL.

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