PA Cyber Recognized for Excellence in Financial Reporting for the Sixth Consecutive Year

November 19, 2024

The Government Finance Officers Association (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the Pennsylvania Cyber Charter School (PA Cyber) for its annual comprehensive financial report for the fiscal year ended June 30, 2023. The report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate an organization’s financial story and motivate potential users to read the report. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.

PA Cyber's CEO Brian Hayden expressed thanks to the dedicated staff of PA Cyber's Business Office. Hayden added, "This is the sixth year our cyber charter school has captured the distinction, and the PA Cyber team is justifiably proud of having achieved this honor. This continues to be a significant milestone for the school.”

As a public school, PA Cyber complies with annual financial reporting requirements set by the state and federal governments. However, the school voluntarily participates in the GFOA program to “demonstrate its commitment to the highest level of reporting standards, transparency to all stakeholders, and good stewardship of taxpayer funds,” says Matthew Schulte, the school’s Chief Financial Officer.

The GFOA advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 20,000 members and the communities they serve. The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.