Joliet Public Schools District 86 has received the Association of School Business Officials International (ASBO) Certificate of Excellence in Financial Reporting (COE) award. 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 (CAFR) for the fiscal year ended 2020. This marks the 37th consecutive year District 86 has received this award.
“I am proud to continue the legacy of transparent and high-quality financial reporting for District 86,” said Joliet Public Schools District 86 Assistant Superintendent for Business and Financial Services Tamara Mitchell, “Thank you to our business department for all their hard work.”
“The COE’s mission is to promote and recognize excellence in financial reporting, specifically through a district’s CAFR,” ASBO International Executive Director David Lewis says. “The CAFR 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 CAFR for review by a team of financial professionals 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 COE is proudly sponsored by ASBO International Strategic Partner American Fidelity.