For the 24th year in a row, the St. Tammany Parish School Board has been awarded the Association of School Business Officials International (ASBOIntl) Certificate of Excellence in Financial Reporting Award as well as a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA). The annual recognitions are given for excellence in the preparation and publication of the Comprehensive Annual Financial Report (CAFR) for the Fiscal Year ending in 2011.
The honors come following an extensive review by experts from the two professional organizations.
The GFOA award was presented at the February School Board meeting by Ms. Gayle Fransen with the Louisiana Legislative Auditor’s office, and the ASBOIntl award was presented by Bryan Huval and Mickey Simon, both with the Audit and Assurance Services office of LaPorte, CPAs and Business Advisors.
Director of Business Affairs Terri Fortenberry and her staff were commended for their annual Financial Report and work in financial reporting for the School System. “Participation in the Certificate of Excellence Program is a rewarding experience,” said Superintendent W. L. “Trey” Folse, III. “Attaining these awards for the past 24 years validates our financial reporting expertise not only to the District but to the community as a whole.”
ASBOIntl established the Certificate of Excellence in Financial Reporting Program in 1972 to enable school business officials to achieve a high standard of financial reporting and recognize excellence in school system comprehensive annual financial reports (CAFR). The award is the highest recognition given to school district financial operations by the ASBO and is conferred to School Systems that have met or exceeded the standards of the certificate program.
The GFOA certificate recognition program is more than 50 years old, and organizations which are singled out for recognition have to meet very stringent criteria. Since 1945, the program has become widely known as the premier indicator of excellence in governmental accounting.
The purpose of the annual financial statements is to report on and provide an overview of the financial position and operations of the school system (including its component units). The CAFR enables school business officials to educate the school board and the public about the status of a school system's finances as well as strengthens presentations for bond issuance statements. It also provides professional recognition for the integrity and technical competence of the business staff.
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