DeKalb CUSD 428 recognized 14th consecutive year for outstanding financial reporting

DeKalb Community Unit School District 428 has again been 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 2023. This is the 14th consecutive year the district has received this designation. The certificate of excellence recognizes districts that have met the program’s high standards for financial reporting and transparency.

“It is a priority 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 Armir Doka, director of business and finance and certified school business officer for the district. “To be recognized consecutively for 14 years is a testament to our district’s discipline and high standards and our commitment to ensuring accurate and transparent reporting.”

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.”
“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, CAE, SFO. “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.”

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