District 181 Earns Certificate of Excellence for Financial Reporting

Community Consolidated School District 181 has received the Association of School Business Officials International's (ASBO) Certificate of Excellence in Financial Reporting award for having met or exceeded the program's high standards for financial reporting and accountability. The District was recognized for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending 2016, the 13th such recognition the District has received. The Certificate of Excellence (COE) award confirms the District's commitment to financial accountability and transparency.

The CAFR is presented in three sections that include general information about the District, financial discussion and analysis, financial statements and schedules, demographic data, and an independent auditor's report.

Assistant Superintendent of Business and Operations Ken Surma notes, "Recognition through the COE program can help strengthen a district's presentation for bond issuance statements and promotes a high level of financial reporting." The District currently maintains a "AAA" bond rating from Standard & Poor's.

"This honor is shared with the Board of Education and all staff of the District," Surma said. He also expressed special congratulations to his colleagues in the District's Business Office. "We are committed to presenting transparent and accurate reports. Our District is committed to strong financial stewardship for the community and an effective use of resources that support student success."

Susan G. Lambert, Recognition Programs Manager for the Association of School Business Officials International, noted in her announcement of the news to District leadership: "Congratulations to you, your staff, and your district! This, your 13th year participating in the program, is a true reflection of your district's continuing commitment to fiscal integrity."

The 2016 CAFR and past CAFR documents can be downloaded on the District website at www.d181.org > Departments > Business.