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FISD Receives Awards for Financial Reporting and Transparency

Oct 20, 2016

Frisco ISD has earned two awards for excellence in financial reporting and transparency for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending in June 2015.

The Association of School Business Officials (ASBO) International has awarded FISD its Certificate of Excellence in Financial Reporting award for having met or exceeded the program’s high standards for financial reporting and accountability.

Sponsored by VALIC, the Certificate of Excellence (COE) award confirms the school business office’s commitment to financial accountability and transparency. Recognition through the COE program can help strengthen a district’s presentation for bond issuance statements and promotes a high level of financial reporting.

In addition, the District earned the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the U.S. and Canada (GFOA).

The GFOA established the program to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.

You can review the District’s most recent CAFR at this link.

Learn more about the awards at www.asbointl.org/COE and www.gfoa.org/coa.

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