For the second year in a row, the Association of School Business Officials International (ASBO) announced that Carroll ISD received the Certificate of Excellence in Financial Reporting (COE). ASBO International’s COE recognizes districts that have met the program’s high standards for financial reporting and transparency. Carroll ISD earned the Certificate of Excellence for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ended in 2019.
“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.”
One of Carroll ISD’s core values is Open and Honest Communication and that involves being transparent with the funds provided to the district by the state and the local taxpayers. Dr. David Faltys, Carroll ISD Superintendent, appreciates the dedication of the district’s Financial Services Department to ensure accuracy with the district funds.
“I am really proud of Scott Wrehe and the Financial Services Department’s efforts to provide transparency for our community,” said Faltys. “Congratulations to them on receiving this prestigious award and for Carroll ISD being recognized at the national level because of their efforts.”
Scott Wrehe, Assistant Superintendent for Financial Services recognizes that this earning this recognition two years in a row is a direct reflection on the hard work of his department.
“This is a testament to the hard work and attention to detail by our Financial Services Department staff,” said Wrehe. “This is the second year in a row for Carroll ISD to earn the award, and it reaffirms our commitment to efficiency and transparency.”
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.