JTHS Awarded for Outstanding Financial Reporting

The Association of School Business Officials (ASBO) International has awarded Joliet Township High School District 204 its Certificate of Excellence in Financial Reporting (COE) for having met or exceeded the program’s high standards for financial reporting and accountability through analysis of the District’s Comprehensive Annual Financial Report for the fiscal year ending 2018.

JTHS has participated in the COE program for 32 years, which is a true reflection of the District’s commitment to fiscal integrity.

“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.

According to Illinois’ Evidence Based Funding Formula, JTHS receives only 58 percent of the financial funding necessary to adequately fund the education of our students. Sound financial management is of the utmost importance to providing a high-quality education for JTHS students. “Joliet Township High School continually demonstrates its ongoing commitment to fiscal integrity and transparency through participation in the Certificate of Excellence Program,” said Dr. Ilandus Hampton, Assistant Superintendent of Business Services. “The District’s Comprehensive Annual Financial Report is reviewed thoroughly by a team of professional auditors. This award presents objective proof of sound fiscal management.”

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.