Date: August 30, 2004
Contact: Irene Cromer
703-791-8720

PRINCE WILLIAM SCHOOLS CITED FOR EXCELLENCE
IN FINANCIAL REPORTING

The Government Finance Officers Association of the United States and Canada has awarded a Certificate of Achievement for Excellence in Financial Reporting to Prince William County Public Schools for excellence in the preparation and issuance of the school division’s Comprehensive Annual Financial Report (CAFR) for fiscal year ending 2003. This is the second year the school division has received this distinction. Last month, the school division received a Certificate of Excellence in Financial Reporting from the Association of School Business Officials International for the second consecutive year.

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. The attainment of this award represents a significant accomplishment, according to Stephen Gauthier of the GFOA. John Wallingford, Supervisor of Fiscal Operations, received an Award of Financial Reporting Achievement for preparing the award-winning CAFR.

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.

The GFOA is a nonprofit professional association serving approximately 15,000 government finance professionals with offices in Chicago, Illinois, and Washington, D.C. For information on GFOA contact Stephen Gauthier at 312-977-9700.