Financial report receives highest honor

Can the words “financial report” and “easy to understand” be used in the same sentence? They can when referring to the financial report published by the Fayette County Board of Education.

For the fourth consecutive year, the Government Finance Officers Association of the United States and Canada has given the Award of Financial Reporting Achievement to the school system for its comprehensive annual financial report (CAFR).

The award is given annually to reports that demonstrate a constructive spirit of full disclosure that clearly communicate the organization’s financial story, and motivate potential users and user groups to read the CAFR. It 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.