District 26 has received the Association of School Business Officials International's Certificate of Excellence in Financial Reporting award for meeting high standards in financial reporting accountablity for the 2012 fiscal year.
The district this year complted a Comprehensive Annual Financial Report, which goes beyond the minimum requirements of generally accepted accounting principles. The district provided additional information such as trend and demographic information, an overview of operations, and highlights of key financial developments during the year.
“This award recognizes the hard work and dedication the Finance staff displays every day in ensuring the District's financial statements and records are accurate and comprehensive," District 26 board member Scott Coffey said in a news release. "The integrity and transparency of the District's financial data has been critical in the decision-making processes in helping drive the District's financial recovery.”
Four years ago, the district had negative fund balances and faced a potential state takeover. Since then, the district had a successful referendum, and balanced its budgets, removing it from the state's watch list.
“After some of the toughest years in our District’s history we are finally turning the corner and District 26 is on the way back," Finance and Operations Director T. Ferrier. "Our finances have begun to stabilize, class sizes are decreasing, and we are beginning to incorporate much needed technology and capital items into the budget. Receiving the Certificate of Excellence award is confirmation of our commitment to financial recovery, accountability, and transparency.”
- Northwest Herald