The Mt. Lebanon School District was again awarded the ASBO International's Certificate of Excellence in Financial Reporting Award (COE) for its Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2018. This is the District's 34th year to receive this award. According to the award certificate, ASBO states, "This is a testament to your district's commitment to transparency and high-quality financial reporting." ASBO International's COE recognizes districts that have met the program's high standards for financial reporting and accountability.
"The COE'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 says. "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 a team of professional auditors, who provide feedback to improve future documents. If the CAFR meets the requirements of the program, the document may receive the Certificate of Excellence. A district's participation in the COE program can facilitate bond rating and continuing bond disclosure processes.
About ASBO International Founded in 1910, the Association of School Business Officials International (ASBO) is a nonprofit organization that, through its members and affiliates, represents approximately 30,000 school business professionals worldwide. ASBO International is committed to providing programs, services, and a global network that promote the highest standards in school business. Its members support student achievement through effective resource management in various areas ranging from finance and operations to food services and transportation. Learn more at asbointl.org.