RALEIGH – For a fifth straight year, the N.C. Education Lottery has received two awards for its efforts to clearly communicate financial information to the public. The awards are conferred by the Government Finance Officers Association of the United States and Canada.
“We understand and appreciate the public’s interest in how the lottery raises money for education,” said Alice Garland, executive director of the lottery. “We are proud that our financial reporting is being recognized again because it reflects our commitment to meet high standards and it shows people how the lottery works.”
The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in the area of governmental accounting and financial reporting. It is given to governmental bodies that exceed the minimum standards of generally accepted accounting principles. The Education Lottery earned the award after the association panel reviewed the lottery’s Comprehensive Annual Financial Report for the fiscal year 2012. The 76-page report details the lottery's revenues, assets and expenses.
The association also awarded the Education Lottery its Award for Outstanding Achievement in Popular Annual Financial Reporting for an eight-page report that provides an overview of the lottery’s financial condition for fiscal year 2012. The award goes to governmental agencies which meet the highest standards for preparation of state and local government reports, including creativity, presentation, understandability and reader appeal.
The Government Finance Officers Association is a nonprofit serving 17,500 government finance professionals in the U.S. and Canada.
Copies of the two reports are posted on the NCEL’s website and can be viewed on the "About" page.