EAST BRUNSWICK–The Association of School Business Officials International (ASBO) has awarded East Brunswick Public Schools with the Certificate of Excellence in Financial Reporting.
This is the sixth consecutive year the school district has earned this award. ASBO International’s Certificate of Excellence recognizes districts that have met the program’s high standards for financial reporting and accountability, according to a statement provided by the school district.
The district earned the Certificate of Excellence for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending in 2018, according to the statement.
“The Certificate of Excellence’s mission is to promote and recognize excellence in financial reporting, specifically through a district’s CAFR,” ASBO International Director of Recognition Programs Molly Barrie said in the statement. “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 Certificate of Excellence program, school districts demonstrate their commitment to financial transparency. Applicants submit their CAFR for review by a team of professional auditors, who provide feedback to improve future documents, according to the statement.
If the CAFR meets the requirements of the program, the document may receive the Certificate of Excellence. A district’s participation in the Certificate of Excellence program can facilitate bond rating and continuing bond disclosure processes, according to the statement.
For more information, visit www.asbointl.org/about/about-asbo-international.