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Mega SenaCalifornia Lottery Receives Certificate for Excellence
Thursday, December 13th, 2007The international organization Government Finance Officers Association of the United States and Canada (GFOA) has awarded the California Lottery the Certificate of Achievement for Excellence in Financial Reporting for the Fiscal Year 2005-06 Comprehensive Annual Financial Report (CAFR).
The GFOA is a nonprofit professional association with offices in Chicago, IL, and Washington D.C.
The California Lotto has won this certificate, the highest form of recognition in the area of governmental accounting and financial reporting, for four consecutive years. “This award from the Government and Finance Officers Association of the United States and Canada proves that our staff is among the best,” said Lottery Director Joan Borucki. Over 50 staff members are employed by California Lottery’s Finance Division.
Incuded in the criteria for the certificate is demonstrating a “spirit of full disclosure.”
Since its inception in 1985, over $19 billion have been contributed to California schools by the Lottery – at least 34 percent of the $52 billion total sales. Over 50 per cent of sales is awarded as prizes, and retailers have earned $3.3 billion.
