News

The Certificate of Achievement for Excellence in Financial Reporting has been awarded for the eighth consecutive year to Klamath Community College District by the Government Finance Officers Association of the United States and Canada (GFOA) for its 2006-2007 Comprehensive Annual Financial Report (C.A.F.R.). 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.

An Award of Financial Reporting Achievement has been awarded to Renée Ferguson, Dean for Administrative Services, who was primarily responsible for preparing the award-winning C.A.F.R. “This C.A.F.R. could not have been prepared without the assistance of a number of individuals; Jack Nowak, Director of Finance; Patricia Springer; and the entire Business and Financial Aid Offices; Tammy Cosand, Donna Nations, Jill Peterson, Michelle Frei, Donna Fulton, and Jacalyn Davies.” stated Dean Ferguson.

The C.A.F.R. includes the same information that is contained in the annual audit, but also includes a Letter of Transmittal, additional financial tables, and a Statistical Section that are prepared in-house. The C.A.F.R. provides more in-depth financial disclosure to interested parties of governmental entities, such as bond holders. It can also assist in the achievement of a higher bond rating. The preparation of a C.A.F.R. along with the receipt of the Certificate of Achievement are all evidence of better management.

The College has received the Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report for the last eight consecutive years. Renée Ferguson, Dean for Administrative Services, stated that "the preparation of the C.A.F.R. takes a considerable amount of staff time and reflects the dedication of the Business Office professionals in ensuring that all financial policies are followed and that the results are reported accurately. These financials form the framework for the C.A.F.R."