The Chagrin Falls Exempted Village Schools (CFEVS) has earned the Association of School Business Officials International (ASBO) International’s Certificate of Excellence in Financial Reporting Award (COE) for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending June 2019.
ASBO International is a non-profit organization that represents approximately 30,000 school business professionals worldwide. They work to promote the highest standards in school business through programs, services and a global network. They sponsor the COE award with their strategic partner, American Fidelity, a company that offers insurance benefits to specific industries.
Schools that participate in the COE program demonstrate their commitment to financial transparency. Chagrin Falls Schools had to submit their CAFR for review by a team of financial professionals who provide feedback to improve future reporting. The District earned the Certificate of Excellence because their CAFR met the requirements of the program. In addition, this year, the review team had no comments or suggestions for improvement.
“The CAFR 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,” said ASBO International Executive Director David Lewis. “Your participation in the COE program for the past six years is a testament to your District’s commitment to transparency and high-quality financial reporting.”