The Government Finance Officers Association (GFOA) has once again recognized Oakland Community College (OCC) for its excellence in financial reporting.
OCC received two top awards: a Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report (ACFR), and an Award for Outstanding Achievement for the College’s Popular Annual Financial Report (PAFR), citing specific areas of excellence.
The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and attaining itrepresents a significant accomplishment by a governmental entity and its management. The GFOA also awarded OCC’s Financial Services department an Award of Financial Reporting Achievement.
It is the ninth consecutive year OCC has earned top national honors for its ACFR and the sixth year for the College’s PAFR.
“The GFOA awards validates OCC’s commitment to meticulous financial reporting and our responsibility providing transparent, accessible information to the community,” said Christina (Tina) Kostiuk, OCC Vice Chancellor for Administrative Services.
The College’s Annual Comprehensive Financial Report contains the College’s required audited financial statements. In addition, the document provides historical financial data, statistics and a narrative to discuss the College’s current fiscal year financial results thus providing a comprehensive picture of the College’s overall financial status.
The PAFR is used to provide readers with a readily accessible and easily understandable reporting of the College’s finances. The 24-page document provides an overview of the College’s history, points of pride and strategic plan, and detailed financial information about OCC’s financial planning and highlights, operating income and expenses, budgeting for facilities and major capital projects.
“We are pleased that the GFOA has recognized OCC and the Financial Services team with these awards. The Annual Comprehensive Financial Report offers a complete picture of the College and its finances while the PAFR is a way to communicate selected financial data to a broad audience”, said Sharon Converse, OCC Controller.
To view the reports, visit https://oaklandcc.edu/about/transparency-at-occ/default.aspx.
About Government Finance Officers Association (GFOA)
Government Finance Officers Association is a major professional association servicing the needs of nearly 19,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services, and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, Illinois, with offices in Washington, D.C.
About OCC
Offering nearly 100 degrees and certificates, OCC is Michigan’s largest multi-campus community college and No. 1 transfer institution in the state. The College provides academic and career training and enriching experiences; to empower students to reach their potential and enhance our community. More than 1 million students have enrolled in the College since it opened in 1965. A seven-person Board of Trustees governs OCC. Board members are elected on a non-partisan, at-large basis, serve as volunteers and are not paid. Mission statement: OCC is committed to empowering our students to succeed and advancing our community. Learn more at oaklandcc.edu.
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