ASBO International honors UCS for financial transparency
ASBO International honors UCS for financial transparency
Posted on 05/09/2019
CAFR LogoFor the seventh straight year, Utica Community Schools has earned recognition for meeting a high standard of transparency in reporting financial information.

The district is among approximately 500 communities to earn a Certificate of Excellence (COE) in Financial Reporting award for its Comprehensive Annual Financial Report (CAFR) from the Association of School Business Officials International.  

The award honors UCS for meeting the program’s high standards for financial reporting and accountability.

“We appreciate the trust and support of our community to effectively use taxpayers’ funds to support our educational vision, mission and strategic direction,” superintendent Dr. Christine Johns said. “The recognition reflects our transparency and accountability to the 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.

 “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,” said ASBO International Director of Recognition Programs Molly Barrie.

The CAFR certificate was awarded for the 2017-2018 fiscal audit.