For the 24th year in a row, The Government Finance Officers Association of the United States and Canada (GFOA) has awarded a Certificate of Achievement for Excellence in Financial Reporting to the University of North Carolina at Chapel Hill for its Comprehensive Annual Financial Report.
Highlights from the 2018 Annual Report include updates from the 2017-2018 academic year regarding progress and major initiatives of the University, fundraising efforts and financial tables that detail in depth the University’s financial position of $1.8 billion as of June 30, 2018. The Annual Report is one way the University fulfils its goal of transparency and accountability to the people of North Carolina and beyond. In addition to the financial statements of the University, the document contains disclosures regarding investments, debt, revenues and expenses.
This Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. To receive a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized Annual Report that must satisfy both generally accepted accounting principles and applicable legal requirements. In addition, it must demonstrate a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and groups to read the report.