GCISD’s Financial Services was awarded the Certificate of Excellence (COE) in Financial Reporting Award from the Association of School Business Officials (ASBO) International. This is the third award for the district’s financial services team within a two-month span.
ASBO’s COE Award recognizes districts that have met the program’s high standards for financial reporting and transparency. The school district earned the honor for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ending in 2023.
“For over half a century, ASBO International’s Certificate of Excellence in Financial Reporting has been the gold standard in promoting and recognizing excellence in financial reporting,” according to ASBO International Executive Director Jim Rowan. “Communicating the financial and economic state of a district is so important when engaging with the school community and building their trust. Districts that receive the COE Award have demonstrated their ability to do that at the highest level.”
The award is presented to school districts that go beyond the minimums in financial reporting and prepare their annual financial statements in accordance with generally accepted accounting principles (GAAP). In order to receive the award, the school district’s ACFR, among other criteria, must have received an unmodified opinion from an independent auditor and not have any required information either absent or otherwise potentially inadequate.
Since July, GCISD has also received the top rating of A for Superior Achievement in the state’s Financial Integrity Rating System of Texas and the Transparency Stars Award from the Texas Comptroller.