For the first time in college history, the Accounting and Finance Department at Umpqua Community College has received a certificate of achievement for excellence in financial reporting.
The certificate is the highest form of recognition for governmental accounting and financial reporting. Recognition came from the Government Finance Officers Association of the United States and Canada for the college’s comprehensive annual financial report for the fiscal year ending June 2017.
According to the association’s website, the certificate program was “established in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles.”
According to a press release, the financial report was judged by an impartial panel on standards such as “demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate its financial story and motivate potential users and user groups to read the annual report.”
It is mandatory for participants to submit their comprehensive annual financial report to an independent auditor as part of meeting eligibility requirements.
The department is a nine-member team led by Chief Financial Officer Natalya Brown. This is the colleges first time applying to the Certificate Program.