The Grapevine-Colleyville ISD Financial Services department has been awarded the Certificate of Excellence in Financial Reporting (COE) by the Association of School Business Officials International (ASBO). This is the 29th time that the district has received the Certificate of Excellence.
ASBO International’s COE recognizes districts that have met the program’s high standards for financial reporting and accountability. The school district earned the Certificate of Excellence for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ended in 2019.
“The COE’s mission is to promote and recognize excellence in financial reporting, specifically through a district’s CAFR,” ASBO International Executive Director David Lewis says. “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.”
By participating in the COE program, school districts demonstrate their commitment to financial transparency. Applicants submit their CAFR for review by a team of financial professionals, who provide feedback to improve future documents. If the CAFR meets the requirements of the program, the document may receive the Certificate of Excellence. A district’s participation in the COE program can facilitate bond rating and continuing bond disclosure processes.