Community High School District 99 was awarded the Certificate of Excellence in Financial Reporting (COE) by the Association of School Business Officials International (ASBOI).
ASBOI’s COE recognizes districts that have met the program’s high standards for financial reporting and accountability. District 99 earned the Certificate of Excellence for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending 2017. This is the 19th consecutive year that District 99 has been awarded this honor.
“It is our goal at District 99 to deliver the highest quality of education to students in the most cost-effective ways possible,” said District 99 Controller Mark Staehlin. “We’re incredibly proud of our team’s commitment to transparency and comprehensive financial reporting.”
The COE’s mission is to promote and recognize excellence in financial reporting, specifically through a district’s CAFR. The CAFR informs parents and other stakeholders about the financial and economic state of the district, making it an important communications tool for building trust and engaging with the school community.
By participating in the COE program, school districts demonstrate their commitment to financial transparency. Applicants submit their CAFR for review by an independent team of professional auditors, who evaluate whether or not the CAFR mets national reporting standards and provide feedback to improve future documents. If the CAFR meets the requirements of the program, the document receives the Certificate of Excellence. A district’s participation in the COE program can facilitate bond rating and continuing bond disclosure processes.
The COE is sponsored by ASBO International Strategic Partner VALIC, a division of the American International Group, Inc. (AIG). Learn more about ASBO’s COE program at asbointl.org/COE.