My office learned last week that the state of South Carolina has again been recognized for outstanding reporting of its finances.
Each year, my office puts together the state’s Comprehensive Annual Financial Report, or CAFR. It’s a detailed presentation of the state’s financial condition and economic outlook which is used by legislators, state agencies, bond rating services and taxpayers.
(Because the financial report is long – the most recent one is more than 250 pages – and can be very technical, our office also produces a separate 16-page report called our Popular Report, and another four-page report called our Citizens Report. The purpose is to make the state’s financial information as easy to read and understand as possible for the citizens.)
In keeping with our commitment to greater government transparency, we’ve posted these reports on my office’s Web site, and we’ve worked to steadily improve the time it takes to publish them. The 2008 CAFR, our most detailed report, was prepared and published in 135 days, compared to 241 days six years earlier. The National Association of State Comptrollers says South Carolina now ranks third best among all states in the timely release of its Comprehensive Annual Financial Report. South Carolina is the only state in the nation to have improved the time to assemble and issue the report every year since 2002.
(I’ve long believed that making financial information easily accessible to people, and doing so in a timely manner, empowers taxpayers. Ultimately, an informed citizenry is the best watchdog to ensure good government.)
On April 20, I was pleased to receive a letter from the Government Finance Officers Association. The letter notified me that the financial report my office had compiled for the fiscal year ending June 30, 2008 had received the Certificate of Achievement for Excellence in Financial Reporting.
The Certificate of Achievement is the highest honor bestowed for governmental accounting and financial reporting. It signifies that we have gone beyond the minimum requirements and prepared a financial report that embraces the spirit of transparency and complete disclosure.
As a CPA, I understand the value of providing thorough, accurate financial data. As someone who believes in good government, making that information as readily available as possible is important to me.
As a proud South Carolinian, I am pleased that our state is a national leader in the quality and promptness of the reporting of our financial information.
To view the 2008 Comprehensive Annual Financial Report for the state of South Carolina, visit http://www.cg.sc.gov/. Go to the bottom left corner, and click on the picture of the report’s cover (featuring a palmetto tree).
Each year, my office puts together the state’s Comprehensive Annual Financial Report, or CAFR. It’s a detailed presentation of the state’s financial condition and economic outlook which is used by legislators, state agencies, bond rating services and taxpayers.
(Because the financial report is long – the most recent one is more than 250 pages – and can be very technical, our office also produces a separate 16-page report called our Popular Report, and another four-page report called our Citizens Report. The purpose is to make the state’s financial information as easy to read and understand as possible for the citizens.)
In keeping with our commitment to greater government transparency, we’ve posted these reports on my office’s Web site, and we’ve worked to steadily improve the time it takes to publish them. The 2008 CAFR, our most detailed report, was prepared and published in 135 days, compared to 241 days six years earlier. The National Association of State Comptrollers says South Carolina now ranks third best among all states in the timely release of its Comprehensive Annual Financial Report. South Carolina is the only state in the nation to have improved the time to assemble and issue the report every year since 2002.
(I’ve long believed that making financial information easily accessible to people, and doing so in a timely manner, empowers taxpayers. Ultimately, an informed citizenry is the best watchdog to ensure good government.)
On April 20, I was pleased to receive a letter from the Government Finance Officers Association. The letter notified me that the financial report my office had compiled for the fiscal year ending June 30, 2008 had received the Certificate of Achievement for Excellence in Financial Reporting.
The Certificate of Achievement is the highest honor bestowed for governmental accounting and financial reporting. It signifies that we have gone beyond the minimum requirements and prepared a financial report that embraces the spirit of transparency and complete disclosure.
As a CPA, I understand the value of providing thorough, accurate financial data. As someone who believes in good government, making that information as readily available as possible is important to me.
As a proud South Carolinian, I am pleased that our state is a national leader in the quality and promptness of the reporting of our financial information.
To view the 2008 Comprehensive Annual Financial Report for the state of South Carolina, visit http://www.cg.sc.gov/. Go to the bottom left corner, and click on the picture of the report’s cover (featuring a palmetto tree).
1 comment:
South Carolina rocks!
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