Summit Public Schools: Summit Public Schools Awarded For Outstanding Financial Reporting

Summit NJ

11 October, 2021

5:44 PM

Description

Press release from the Summit Public Schools: 2021-10-11 Summit Public Schools Awarded for Outstanding Financial Reporting The Association of School Business Officials International (ASBO) is pleased to award City of Summit Public Schools 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 Comprehensive Annual Financial Report for the fiscal year ended 2020. "The COE's mission is to promote and recognize excellence in financial reporting," ASBO International Executive Director David Lewis says. "The Comprehensive Annual 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 report 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. This press release was produced by the Summit Public Schools. The views expressed here are the author's own.