November 3, 2011
DELAWARE LOTTERY HONORED FOR FINANCIAL REPORTING
For the 12th consecutive year the State Lottery Office is awarded the highest recognition in governmental accounting
Dover, DE -- The Delaware Lottery announced today that the Government Finance Officers Association of the United States and Canada (GFOA) has once again awarded Delaware Lottery with “The Certificate of Achievement for Excellence in Financial Reporting.” The Delaware Lottery was presented the award for succeeding in going beyond minimum requirements of accounting principles to prepare its comprehensive financial report (CAFR). This marks the 12th consecutive year that the Delaware Lottery has been recognized with this award, the highest in the area of governmental accounting and financial reporting.
Under the primary authorship of the Lottery’s Fiscal Administrative Officer, Mark Brittingham, the CAFR is prepared at the end of each fiscal year and judged by an impartial panel comprised of financial statement preparers, independent auditors, academics, and other finance professionals. To satisfy the CAFR program’s top-notch criteria, the Report seeks to demonstrate “the spirit of transparency and full disclosure” and to constructively communicate the organization's financial story.
“The Delaware Lottery takes great pride in its reporting operations and its ability to year after year maintain a superior level of accuracy and efficiency when producing financial information,” said Acting Lottery Director Vernon Kirk. “More importantly, the Delaware Lottery will continue to follow best practices and implement financial policies that will benefit Delaware citizens.”
In addition to its reporting and auditing requirements as a State of Delaware agency, the Lottery Office annually pursues the reporting performance review and attainment of The Certificate of Achievement represents a significant accomplishment by government and its management.
GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL, and Washington, D.C.
The Delaware Lottery is a signatory member of the North American Association of State and Provincial Lotteries (NASPL) and a division of the Delaware Department of Finance, an official agency of the State of Delaware. Since the start of operations in 1975, the Delaware Lottery has contributed more than $3.35 billion to the state's General Fund to help finance needed state services that benefit everyone in Delaware. The Lottery oversees activities at the State's three licensed Video Lottery facilities and offers a variety of ticket games including: POWERBALL®, MEGA MILLIONS®, HOT LOTTO®, MULTI-WIN LOTTO, DELAWARE CASH 5®, PLAY 3, PLAY 4, and assorted Instant Games.
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