The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Lone Star College for its comprehensive annual financial report for the fiscal year ended Aug. 31.
“This is the 11th consecutive year Lone Star College has received this prestigious award,” said Cynthia Gilliam, LSC vice chancellor, administration and finance/chief financial officer. “We have a great team of individuals who work hard to ensure our financial reporting is comprehensive and contains the spirit of transparency and full disclosure.”
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 accomplish by a government and its management.
“Lone Star College knows the importance of being accountable to taxpayers,” said Dr. Stephen C. Head, LSC chancellor. “I am proud of the very hard work our employees do to ensure Lone Star College goes beyond the minimum requirements of generally accepted accounting principles.”
In order to be awarded a Certificate of Achievement, a government agency must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only.
The GFOA was founded in 1906 and represents public finance officials throughout the United States and Canada. The association's more than 18,000 members are federal, state/provincial, and local finance officials deeply involved in planning, financing, and implementing thousands of governmental operations in each of their jurisdictions. The GFOA's mission is to enhance and promote the professional management of governmental financial resources by identifying, developing and advancing fiscal strategies, policies, and practices for the public benefit.
Known for its leadership, innovation and steadfast commitment to student success, Lone Star College provides high-quality academic transfer and workforce education / career training programs to more than 83,000 credit students each semester, and a total enrollment of 95,000 students. LSC is training tomorrow’s workforce today and redefining the community college experience to promote student success and economic prosperity. Stephen C. Head, Ph.D., is the chancellor of LSC, the largest institution of higher education in the Houston area, which consists of six colleges, seven centers, two university centers, Lone Star Corporate College and LSC-Online. To learn more visit LoneStar.edu.