News - Avon Lake City School District Awarded for Outstanding Financial Reporting
Ashburn, VA – 2022 – The Association of School Business Officials International (ASBO) is pleased to award Avon Lake City School District the Certificate of Excellence in Financial Reporting (COE). ASBO International’s COE recognizes districts that have met the program’s high standards for financial reporting and transparency. The school district earned the Certificate of Excellence for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended 2021.
“The COE’s mission is to promote and recognize excellence in financial reporting,” ASBO International Executive Director David Lewis says. “The Annual Comprehensive Financial Report informs 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 ACFR for review by a team of financial professionals who provide feedback to improve future documents. If the report meets the requirements of the program, it may receive the Certificate of Excellence. A district’s participation in the COE program can facilitate bond rating and continuing bond disclosure processes.