RICHMOND, VA--(Marketwired - June 26, 2013) - Gary Ometer, chief financial officer for Virginia529 College Savings Plan (Virginia529), has received a 2013 Virginia CFO Award from Virginia Business Magazine. Ometer was honored in the small nonprofit/government agency category.
During Ometer's tenure, Virginia529 weathered the market downturn in 2008, revised its asset allocation strategy, revised its investment and cash management policies, implemented a new general ledger accounting system and improved its financial reporting. Also during this time, Plan assets under management have grown from $27 billion to more than $43 billion.
"Gary exemplifies what it takes to be an excellent CFO in any organization of any size -- integrity, honesty, competence and leadership," emphasized Virginia529's CEO Mary Morris. "The citizens of the Commonwealth of Virginia are fortunate to have him on their team."
"I am honored to have received this award, especially given the quality, experience and accomplishments of the other nominees," said Ometer.
He also was quick to praise his staff for their contributions to his success.
"This award belongs to the entire Virginia529 finance team, since it would not have been possible without their ongoing dedication and effort," he noted.
Ometer joined Virginia529 in 2008 as chief financial officer. He is responsible for the agency's financial operations, accounting, investments and financial reporting.
About the Virginia529 College Savings Plan:
Virginia529 is a 529 college savings plan that offers flexible, affordable, tax-advantaged savings for qualified higher education expenses through its four programs -- Virginia529 prePAID (SM) (prePAID (SM)), Virginia529 inVEST (SM)
(inVEST (SM)), CollegeAmerica® and CollegeWealth®. With more than 2.2 million accounts and $43 billion in assets under management as of April 30, 2013, Virginia529 is the largest 529 plan in the country. For more information on Virginia529's college savings options, visit Virginia529.com.