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Orono Schools has been recognized with a Certificate of Excellence in Financial Reporting from the Association of School Business Officials International.
The designation recognizes districts that have met high standards for financial reporting and accountability through the publication of a Comprehensive Annual Financial Report.
Just 29 of Minnesota’s 327 school districts have earned this prestigious award that demonstrates a commitment to financial transparency.
The Comprehensive Annual Financial Report (CAFR) tells the financial story of the school system through narrative, financial statements and charts/graphs. The CAFR not only gives the summary and detailed information for the school year being reported, but also includes information for the previous 10 years.
“The CAFR informs parents and other stakeholders about the financial and economic state of the district,” said ASBO International Executive Director John Musso, “making it an important communications tool for building trust and engaging with the school community.”