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Certificate of Excellence in Financial Reporting - Four Years in a Row

Red Bank Borough School District Awarded for Outstanding Financial Reporting 

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The Association of School Business Officials International (ASBO) is pleased to award Red Bank Borough School District the Certificate of Excellence in Financial Reporting (COE). ASBO International’s COE recognizes districts that have met the program’s high standards for financial reporting and transparency. The school district earned the Certificate of Excellence for its Comprehensive Annual Financial Report for the fiscal year ended 2020.  It is the district’s fourth consecutive year earning this prestigious honor.

 “The COE’s mission is to promote and recognize excellence in financial reporting,” ASBO International Executive Director David Lewis says. “The Comprehensive Annual 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.”

By participating in the COE program, school districts demonstrate their commitment to financial transparency. Applicants submit their report for review by a team of financial professionals who provide feedback to improve future documents. If the report meets the requirements of the program, it may receive the Certificate of Excellence. A district’s participation in the COE program can facilitate bond rating and continuing bond disclosure processes. The COE is proudly sponsored by ASBO International Strategic Partner American Fidelity.

 Superintendent of Schools, Dr. Jared Rumage, credits School Business Administrator, Eileen Gorga, SFO as well as the Red Bank Borough Board of Education for their attention to detail and for making transparency a top priority. Board of Education President, Dr. Frederick Stone stated, “This commendation further acknowledges the excellence of the professionals we have leading the Red Bank Borough Public Schools and our commitment to deliberate and practical long-term planning.”

 In spite of chronic underfunding from the State, Red Bank Board of Education Finance Committee Chairperson, Suzanne Viscomi is proud of the district’s current financial position. She is particularly proud of the recently completed work supported by our 2019 tax-neutral referendum campaign that fortified our infrastructure with major capital improvements including roofing, windows, and HVAC units at no additional cost to the local taxpayer. “We view our schools as community assets and our attention to facilities planning continues to be a priority. We are excited that our families have access to safe and secure facilities in which to chase their BIG Dreams.” 

The Certificate of Excellence recognition confirms to the Red Bank community that the Board of Education places a high priority on fiscal responsibility. Dr. Rumage said, “The Board of Education and our District Leadership are committed to providing the highest quality educational experience for our students while being respectful of the impact school budgets have on the local taxpayer.”

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About ASBO International

Founded in 1910, the Association of School Business Officials International (ASBO) is a nonprofit organization that, through its members and affiliates, represents approximately 30,000 school business professionals worldwide. ASBO International is committed to providing programs, services, and a global network that promote the highest standards in school business. Its members support student achievement through effective resource management in various areas ranging from finance and operations to food services and transportation. Learn more at asbointl.org.

 

Red Bank, NJ – August 10, 2021