LITTLE ROCK — The Arkansas State University (ASU) System has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive financial report for the fiscal year ending June 30, 2025.
This marks the 14th consecutive year that the ASU System has earned this prestigious distinction, making it the only higher education institution in Arkansas to receive the recognition. According to GFOA, the award represents the highest standard in governmental accounting and financial reporting and reflects a significant accomplishment for the institution and its management team.
The ASU System’s financial report was judged by an impartial panel to meet the program’s rigorous criteria, which emphasize a spirit of full disclosure, financial transparency, and clear communication. The goal of the program is to ensure financial reports provide users with the information they need to understand the financial health of participating organizations.
“This is our 14th year to receive this prestigious award,” said Dr. Russ Hannah, vice chancellor for finance and administration and chief financial officer at Arkansas State University (A-State). "I’m grateful for the good work of A-State’s Myra Goodwin, associate chief financial officer, and Gretchen Burns, controller, and that of the CFOs and their staffs at all of the ASU System institutions in earning this award. It’s an important external validation of our collective ongoing commitment to ensure transparency, accuracy, integrity, and value in our system’s financial reporting, and I’m proud of this record of achievement."
Oversight of the ASU System’s annual financial report is led by Landen Crancer, the system’s associate vice president for finance and administration, with preparation handled by the A-State Office of Finance in collaboration with the finance teams at the system’s member institutions.
Founded in 1945, GFOA introduced the Certificate of Achievement for Excellence in Financial Reporting Program to promote transparency and best practices in financial reporting by public institutions. The organization serves more than 25,000 members across the United States and Canada, providing professional development, resources, and guidance to foster excellence in governmental finance.
As the only Arkansas-based higher education system recognized in this capacity, ASU’s continued acknowledgment reflects its commitment to high standards in financial management and reporting.