CERTIFICATE OF ACHIEVEMENT
The Government Finance Officers Association of the United States and
Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial
Reporting to the State of South Carolina for its comprehensive annual financial report
(CAFR) for the fiscal year ended June 30, 1996. In order to be awarded a Certificate
of Achievement, a government must publish an easily readable and efficiently
organized CAFR whose contents conform to rigorous program standards. Such
reports must satisfy both generally accepted accounting principles and applicable
legal requirements. A Certificate of Achievement is valid for a period of one year
only.
The State of South Carolina has received a Certificate of Achievement for the
last nine consecutive years (1987-88 through 1995-96). Again this year, the State will
submit its CAFR to the Certificate of Achievement for Excellence in Financial
Reporting program of the GFOA. I firmly believe that South Carolina's report for the
fiscal year ended June 30, 1997, meets the requirements to receive the Certificate of
Achievement.