Louisiana Lottery President Rose Hudson recently announced that the Louisiana Lottery Corporation has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) of the United States and Canada for the 10th consecutive year for its 2016 retirement plans annual report.
According to the GFOA, the Certificate of Achievement represents the highest form of recognition in the area of governmental accounting and financial reporting. It is considered a significant accomplishment by a government entity and its management. The Lottery’s Accounting Department prepared the comprehensive annual financial reports, which were judged based on full disclosure and the ability to motivate potential users to read the reports.
“I am proud of the Lottery’s accounting team for receiving this great honor and for continuing to be a leader when it comes to financial practices,” said Lottery President Rose Hudson. “Being recognized year after year by GFOA demonstrates our commitment to fulfilling our mission to uphold the highest standards of integrity and public trust.”
The GFOA is a non-profit organization with offices in Chicago and Washington D.C. The association serves approximately 19,000 government finance professionals.
The Louisiana Lottery Corporation was established in 1991 as a quasi-state entity, with the purpose of generating revenue for the state. Each year, 35 percent of all Lottery revenue is transferred to the state treasury to fund public education. Current financial statements are available on the Lottery’s website, www.louisianalottery.com.