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.
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