UCPS recognized for fiscal practices, transparency

Jul. 20, 2013 @ 05:17 PM

For the 12th consecutive year the Union County Public Schools Finance Department has been recognized nationally for its comprehensive financial reporting.

The Government Finance Officers Association of the United States and Canada (GFOA) recently awarded the Certificate of Achievement for Excellence in Financial Reporting to the UCPS Finance Department.

“The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management,” said Stephen J. Gauthier, GFOA Director of Technical Services Center.

The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) 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.

“Our staff works very hard to ensure that every dollar is accounted for and that its use is carefully documented in an easy-to-read format. Receiving this award for the 12th consecutive year acknowledges the Board of Education’s dedication to best accounting practices,” said Dan Karpinski, UCPS Chief Financial Officer.

According to GFOA spokesperson Kathie Schultz, the UCPS Finance Department has received this recognition annually since 2002 for it “comprehensive” annual financial report (CAFR), the most recent being for the fiscal year June 30, 2012.

The CAFR is judged by an impartial national panel in order 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 users and user groups to read the CAFR.

“I am extremely proud of the UCPS Finance Department. Being recognized for 12 consecutive years affirms our commitment to transparency and the careful stewardship of the resources entrusted to the school system,” said Dr. Mary Ellis, UCPS Superintendent.

This article was provided courtesy of the Communications Office of the Union County Public Schools.