CRANSTON – The Rhode Island Lottery, the Ocean State’s third largest source of revenue, was awarded a Certificate of Achievement for Excellence in Financial Reporting for the 16th consecutive year.
The certificate, which was awarded by independent auditing association the Government Finance Officers Association of the United States and Canada, was awarded for the lottery’s high standards in accounting and financial reporting.
Specifically, the auditing association noted the lottery’s comprehensive annual financial report for the fiscal year ended June 30, 2012.
After review from an impartial panel of auditing professionals, the Rhode Island Lottery earned the commendation for demonstrating a “spirit of full disclosure to clearly communicate its financial story and motivate the public and others to utilize the report for research and other uses,” according to a lottery release.
The lottery added that its annual report contained – in addition to business and operational components – interesting historical lottery information and future objectives to “better serve the Rhode Island community.”
In 1997, the Rhode Island Lottery became the first state agency to achieve the Certificate of Achievement for Excellence in Financial Reporting and has earned the recognition in every year since then.