For the Reporter
Kent School District (KSD) received its 28th consecutive Certificate of Excellence award in Financial Reporting.
The district was recognized by the Association of School Business Officials International (ASBO) for its Comprehensive Annual Financial Report for the fiscal year ending 2012. The district was judged to have met or exceeded the program’s high standards for financial reporting and accountability.
This year’s Certificate of Excellence (COE) award confirms KSD’s commitment to financial accountability and transparency.
“This award represents a significant achievement and reflects the district’s commitment to the highest standards of school system financial reporting,” said ASBO Executive Director John Musso.
Recognition of the district’s transparent finances accompany its diligent savings initiatives over the year.
Over the last school year, KSD was able to save taxpayers over $2.5 million due to its very high credit rating. KSD refunded an existing bond and reissued it at a lower interest rate for the savings.
By instituting sustainable energy practices in the district, KSD saved $1.1 million in utility costs in the last fiscal year.
“It’s our goal to be wise with our financial resources and to conduct our business practices with the utmost integrity,” says Dr. Richard Stedry, chief business officer. “For such a large district, recognition of our exceptional financial reporting is an affirmation that we are meeting that goal.”
“Financial transparency and accountability are important tenets of Kent School District’s philosophy,” agrees School Board President Debbie Straus. “Integrity is the core of our commitment to the community, and we are glad to be recognized for our efforts.”
The Association of School Business Officials International (ASBO) is a longstanding professional association of more than 5,000 members that provides programs and services to promote the highest standards of school business management practices, professional growth, and the effective use of educational resources.
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