District Five Office of Finance & Operations awarded GFOA Achievement for Excellence in Financial Reporting
March 16, 2017
Lexington-Richland School District Five’s Office of Finance and Operations 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 comprehensive annual financial report (CAFR) for the fiscal year ending in 2016.
“It is an honor for District Five to receive a Certificate of Achievement for Excellence in Financial Reporting by the GFOA,” said District Five Chief Finance Officer Len Richardson. “It takes an entire team effort to prepare our comprehensive annual financial report each year and for our team to be recognized at a national level for the countless hours they put into this means so much!”
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government unit and its management. In order to be awarded a Certificate of Achievement, a government unit must publish an easy readable and efficiently organized CAFR, whose contents conform to program standards. The CAFR must satisfy both generally accepted accounting principles and applicable legal requirements.
The CAFR is judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential user groups to read the CAFR. The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago and Washington, D.C.
