SC State's Financial Report is Certified Excellent
SOUTH CAROLINA STATE UNIVERSITY'S FINANCIAL REPORT IS CERTIFIED EXCELLENT
South Carolina State University's senior vice president for Finance and MIS, John E. Smalls, received notification that the 2005 comprehensive annual financial report (CAFR) for the fiscal year ended June 30, 2005, qualified for a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada. 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.
"The receipt of such a distinction speaks volumes to the commitment of the University to excellence and being good stewards of the resources entrusted to us. The distinction is even more significant because this is the first time we applied and were successful on our first try," said Dr. Andrew Hugine Jr. President.
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.