National Financial Reporting Award Goes to University System’s Accounting Team
JONESBORO – Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to Arkansas State University System for its annual comprehensive financial report for the fiscal year ended June 30, 2024.
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.
The Certificate of Achievement is the highest recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a governmental organization and its management. The program goal is to ensure that users of the financial statements have needed information to accurately assess the financial health of the participating entity.
The Arkansas State University System is the only higher education entity in Arkansas to receive this award. The annual ASU System comprehensive financial report is overseen by Julie Bates, system executive vice president of finance and administration, and prepared by the A-State Office of Finance in coordination with the finance offices of each of the system’s member institutions.
“This is our 13th year to receive this prestigious award,” said Dr. Russ Hannah, vice chancellor for finance and administration and chief financial officer at A-State. “I’m grateful for of the good work of A-State’s Myra Goodwin, associate chief financial officer, and Gretchen Burns, controller, and that of the CFOs and their staffs at all of the ASU System institutions in earning this award. It’s an important external validation of our collective ongoing commitment to ensure transparency, accuracy, integrity and value in our system’s financial reporting and I’m proud of this record of achievement.”
Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 25,000 members and the communities they serve.
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (COA) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual comprehensive financial reports that evidence the spirit of transparency and full disclosure and to recognize individual governments that succeed in achieving this goal.
