News Column

Waubonsee Recognized for Financial Reporting, Budget Presentation

July 17, 2014



SUGAR GROVE, Ill., July 17 -- Waubonsee Community College issued the following news:

Waubonsee Community College has been nationally recognized for the college's financial reporting and budget presentation practices.

For the 15th consecutive year, the Government Finance Officers Association of the United States and Canada (GFOA) awarded Waubonsee the Certificate for Excellence in Financial Reporting.

Additionally, for the first time, Waubonsee received the GFOA's Distinguished Budget Presentation Award.

Both awards were for the college's 2012 budget and financial reports.

The awards represent significant achievements by the college, reflecting the commitment of Waubonsee and its staff to meet the highest principles of governmental budgeting and financial reporting.

To receive the Distinguished Budget Presentation Award, Waubonsee was required to satisfy nationally recognized budget presentation guidelines, designed to assess how effectively the budget serves as a policy document, financial plan, operations guide and communications device.

Those four categories include 14 mandatory criteria.

Twenty-eight other colleges in the U.S. and 13 others in Illinois received the GFOA Distinguished Budget Presentation Award.

The GFOA Excellence in Financial Reporting award represents the highest form of recognition in governmental accounting and financial reporting.

Of the 77 colleges receiving the award, 22 are Illinois community colleges.

Waubonsee was one of 307 local taxing bodies in Illinois to receive the award from the GFOA.

The GFOA, with offices in Chicago and Washington, D.C., is a non-profit professional association serving more than 17,000 government finance professionals.

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