West Virginia Lottery Earns Excellence in Financial Reporting Award for 23rd Straight Year
August 31, 2020CHICAGO – The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the West Virginia Lottery for its comprehensive annual financial report (CAFR) for the fiscal year ended June 30, 2019. This is the 23rd year in a row that the West Virginia Lottery has received the award.
“I want to thank all of our employees who work hard every day to make sure our Lottery operates with the highest level of integrity,” West Virginia Lottery Director John Myers said. “Earning this distinction for 23 straight years is a testament to the West Virginia Lottery’s long-standing commitment to transparency and the public trust.”
The Lottery’s CAFR has been judged by an impartial panel to meet the high standards of the program, which includes 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 Certificate of Achievement 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.
The non-profit GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure.
The West Virginia Lottery operates as a business enterprise within the framework of State laws, rules and regulations. Its mission is to generate revenue to fund programs benefiting education, senior citizens, tourism and other programs the West Virginia Legislature may determine. Since its establishment in 1986, the West Virginia Lottery has produced more than $10.4 billion in proceeds for the People of West Virginia.
The West Virginia Lottery’s CAFR for fiscal years ended 2018 through 2011 are available online at https://wvlottery.com/news-and-info/information/financial-reports.
