Finance provides a key role in the progress of the District by providing financial guidelines and recommended business practices, along with internal controls and accountability reports, which are key factors in ensuring good financial health of the District.
Areas included are:
• Authorized use of funds.
• Timely payment of obligations.
• Financial policies and procedures.
• External reporting and filings.
• Annual audit and financial report and quarterly reports.
• Generally accepted accounting principles.
AWARDS AND ACKNOWLEDGMENTS
Academy District 20 received the Association of School Business Officials International (ASBO) Certificate of Excellence in Financial Reporting for the most recently audited fiscal year. This award certifies that the Comprehensive Annual Financial Report (CAFR) substantially conforms to the principles and standards of financial reporting as recommended and adopted by ASBO. The award is granted only after an intensive review of financial reports by an expert panel of certified public accountants and practicing school business officials.
The Government Finance Officers Association of the United States and Canada (GFOA) also awarded a Certificate of Achievement of Excellence in Financial Reporting to Academy District 20 for its most recently audited fiscal year's CAFR. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports.
In order to be awarded a Certificate of Excellence or a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized CAFR, whose contents conform to program standards. The document must satisfy both generally accepted accounting principles and applicable legal requirements. Certificates from both ASBO and GFOA are valid for a period of one year only. The district has received ASBO and GFOA awards each year since 1999, the first year it began preparing a CAFR. We believe our next published report will continue to conform to program requirements.