EDUCATION BLACKBOARD

SCHOOL BEAT

Certificate of Excellence in Financial Reporting

by MIKE CUNEO
Assistant Superintendent of Finance
Rockford Public Schools

Rockford Public Schools (RPS) was awarded the Association of School Business Officials International’s (ASBO) “Certificate of Excellence in Financial Reporting Program” (COE) for excellence in the preparation and issuance of the fiscal year end 2010 school system report. This is the 10th consecutive year Rockford has received this distinction.

The “Certificate of Excellence in Financial Reporting Program” was designed by ASBO International to enable school business officials to achieve a high standard of financial reporting. The award, the highest recognition for school district financial operations offered by ASBO, is only conferred to school systems that have met or exceeded the standards of the programs.

The COE award represents a very significant achievement and confirms the district’s business office commitment to financial accountability and transparency. Recognition through the COE program helps strengthen the district’s presentation for bond issuance statements and promotes a high level of financial reporting.

The COE is divided into numerous reporting sections. The Introductory Section provides the district an opportunity to present our educational program, share the district’s Points of Pride, and highlight Rockford’s strategic planning model, Rockford Action Model for Success (RAMS). We also comment on the current economic conditions we face as a school district in the state of Michigan.

The Financial Section meets the state and federal guidelines for financial reporting of all district funds. This section includes information on the General Fund as well as Special Revenue Funds.

The Statistical Section provides a 10-year history and overview of financial and demographic data.

As noted in the Vision Statement of the Board of Education, we have the responsibility to be trustworthy stewards of the financial resources provided to us by the community. The achievement of this award reflects the district’s commitment to the highest standards of school system financial reporting and to our community.

You may view the full report on the district’s website at www.rockfordschools.org/Resources/PDF/RPS/Rockford%202010%20ASBO%20CAFRe.pdf.

Congratulations to the staff who worked so hard to earn the Certificate of Excellence in Financial Reporting Award and our appreciation to the community of Rockford for their support.

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