Red Bank Schools Earn Financial Reporting Honor For 9th Year In A Row

RED BANK, NJ — The Red Bank Borough Public School District has earned a prestigious financial reporting honor for the ninth consecutive year.

According to a news release from the school district, the Certificate in Financial Reporting (COE) was awarded to Red Bank Borough Public Schools by the Association of School Business Officials International (ASBO).

This national distinction recognizes K–12 districts that uphold the highest standards of financial accountability, transparency, and integrity.

The district earned this honor for its exemplary Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2025, marking the ninth consecutive year the district has achieved this milestone.

"For over half a century, ASBO International's Certificate of Excellence in Financial Reporting has been the gold standard for promoting and recognizing excellence in financial transparency," said Jim Rowan, CAE, SFO, Executive Director of ASBO International.

"Clear and accurate financial reporting is crucial for engaging school communities and building their trust," Rowan continued. "Districts that earn the COE have demonstrated an extraordinary commitment to these principles."

Superintendent of Schools, Dr. Jared Rumage, credited School Business Administrator Anthony Sciarrillo and the Red Bank Borough Board of Education for their "meticulous attention to detail and unwavering commitment to fiscal transparency."

Board of Education President and Finance Committee Chairperson, Ms. Suzanne Viscomi, also expressed pride in the district’s stable financial position, especially amidst "unpredictable state and federal funding environments, along with the extraordinary recent increases in healthcare costs."

"This commendation further acknowledges the excellence of the professionals leading our schools and our Board's commitment to deliberate, practical long-term planning," Viscomi said. "We strive to be the best in America so we can be certain we are the best for Red Bank."

"We view our schools as community assets," Viscomi continued. "Our focus on infrastructure ensures our entire school community has access to safe, secure facilities in which to chase their BIG Dream — including our new outdoor recreational space at Red Bank Primary School."

Participation in the COE program underscores a school district's dedication to financial accountability, district officials said.

To earn the award, the district’s ACFR underwent a "rigorous review" by a panel of expert financial professionals.

Beyond validating transparency, achieving the COE benefits the community by supporting the district's bond rating and continuing bond disclosure processes.

The recognition reassures Red Bank taxpayers that local education dollars are being managed with the utmost care, according to district officials.

"The Board of Education and our District Leadership are fully committed to providing a premier educational experience for our students while remaining deeply respectful of the impact school budgets have on local taxpayers," Dr. Rumage said.

"We look forward to continued transparency and detailed reporting to support our students, staff, and community as we advance our strategic plan, Dream Bigger: A Five-Year Roadmap."

This is the second piece of good news for the Red Bank Borough Public School District this month.

On June 3, the State Board of Education approved the designation of the district as High Performing as recommended by the NJ DOE.

• Read More: Red Bank Borough Public Schools Designated A 'High Performing' District

The district is now certified for a period of three years. The designation comes as a result of the state’s comprehensive New Jersey Quality Single Accountability Continuum (NJQSAC) review, which evaluates all public school districts across five critical operational areas — including Fiscal Management.

The district achieved exceptional marks, earning a perfect 100% in three of the five core areas with an overall average of 95%.