The Government Finance Officers Association (GFOA) has once again recognized Oakland Community College (OCC) for its excellence in financial reporting and budget presentation.
OCC received three awards from the GFOA, earning the GFOA’s Triple Crown recognition:
- Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report (ACFR).
- Award for Outstanding Achievement for the College’s Popular Annual Financial Report (PAFR), citing specific areas of excellence.
- Distinguished Budget Presentation Award for the Budget and Financial Forecast.The Financial Services Department also was recognized with an Award of Financial Reporting Achievement, and the Budget and Financial Planning Department received a Certificate of Recognition for Budget Preparation.
The Financial Services Department also was recognized with an Award of Financial Reporting Achievement, and the Budget and Financial Planning Department received a Certificate of Recognition for Budget Preparation.
“The GFOA awards validates OCC’s commitment to meticulous financial reporting, the highest principles of governmental budgeting and our responsibility providing transparent, accessible information to the community,” said Christina (Tina) Kostiuk, OCC Vice Chancellor for Administrative Services.
The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and attaining it represents a significant accomplishment by a governmental entity and its management. 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.
The Budget and Financial Forecast contains a five-year history and five-year budget and forecast for the College’s Operating Funds and Capital Fund. In addition, the document provides information about the College’s strategic planning, budget policies, statistical data and a narrative to discuss the College’s operating, capital and other funds revenue and expenses.
To view the reports, visit Transparency at OCC.
About the GFOA
The 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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