The Certificate of Excellence in Financial Reporting is the highest recognition of school district financial operations offered by ASBO, a professional organization with more than 6,000 members. The program reviews and critiques district accounting practices as represented in the Comprehensive Annual Financial Report, and recognizes school districts that meet or exceed the program’s high standards for financial reporting and accountability. Fewer than 1,000 school districts nationally apply for the Certificate of Excellence each year.
“This award represents a significant achievement and reflects your commitment to transparency and high-quality financial reporting,” ASBO International Executive Director David Lewis wrote.
This year’s Certificate of Excellence in Financial Reporting recognizes the preparation and issuance of the district’s Comprehensive Annual Financial Report for fiscal year 2020. The report is available on the Finance Department page of the district website at www.District196.org, along with financial reports and annual budgets for the current year and previous nine years.
“Winning this award for over 15 years generates pride in our district and its efforts to go beyond the minimum requirements in providing transparency in its financial statements. The Comprehensive Annual Financial Report provides full disclosure of the financials and is readily available to anyone who wants to review them,” said Andy Schornack, a Rosemount resident who currently chairs the district’s Budget Advisory Council. “This recognition reflects the hard work of the district’s Finance Department and their high standards for financial reporting.”
District 196 has also received ASBO’s Meritorious Budget Award for the last five years for excellence in preparing and communicating the annual budget.