Coastal Carolina University has received the Certificate of Achievement for Excellence in Financial Reporting, a national award given by the Government Finance Officers Association of the United States and Canada (GFOA), for its comprehensive annual financial report (CAFR).
According to GFOA, 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 accomplishment by a government and its management. As the individual primarily responsible for preparing the award-winning CAFR, Linda P. Lyerly, controller at Coastal Carolina University, received an Award of Financial Reporting Achievement.
The award letter states that the CAFR has been judged by an impartial panel 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.
Clark Parker, chairman of the Coastal Carolina University Board of Trustees, said, "As a CPA as well as a trustee, I am doubly excited by the significance of this award. The Board of Trustees is always fully informed with management data for decision making."
According to President Ronald Ingle, "In these hard financial times, the national recognition that accompanies this award confirms that Coastal's excellence in financial management includes not only sound fiscal responsibility, but also a continuing commitment to the full disclosure for which the award was given. I am especially proud of the excellence in financial leadership exhibited by our chief financial officer, Executive Vice President Sally Horner, and by Mrs. Lyerly as controller."
Other South Carolina senior colleges and universities that received the award last year are Clemson University, the College of Charleston and the Medical University of South Carolina.