DeKalb Community Unit School District 428 is recognized with the Certificate of Excellence (COE) in Financial Reporting by the Association of School Business Officials International (ASBO). DeKalb CUSD 428 earned the Certificate of Excellence for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended 2022. This is the 13th consecutive year the district has been recognized. The certificate of excellence recognizes districts that have met the program’s high standards for financial reporting and transparency.

“This report is an important means for the district to work collaboratively with several of our stakeholders and provide a deeper and more in-depth understanding of the financial status and health of the district,” said Cindy Carpenter, director of business and finance for the district. “To be recognized consecutively for 13 years is a testament to the discipline and high standards of our district.”

By participating in the COE program, school districts demonstrate their commitment to financial transparency. “The COE’s mission is to promote and recognize excellence in financial reporting,” ASBO International Chief Operations Officer/Interim Executive Director Siobhan McMahon says. “The Annual Comprehensive Financial Report informs stakeholders about the financial and economic state of the district, making it an important communications tool for building trust and engaging with the school community.”

Applicants submit their ACFR for review by a team of financial professionals who provide feedback to improve future documents. If the report meets the requirements of the program, it may receive the Certificate of Excellence. A district’s participation in the COE program can facilitate bond rating and continuing bond disclosure processes.