Arlington Heights, IL – For the 23rd year in a row District 25’s Business Department is being honored for going above and beyond in their financial reporting.
The Association of School Business Officials International awarded District 25 and its Assistant Superintendent for Business/CSBO Stacey Mallek and her staff with the Certificate of Excellence in Financial Reporting for having met or exceeded the program’s high standards for financial reporting and accountability.
“I think winning this award, now 23 years in a row, shows that our Department goes through all of our financial information on a very thorough level,” Mallek said, “It also shows that we can comprehensively share it with the community. We handle taxpayer money and I hope this instills trust in all of our stakeholders that the business office is putting out financial information at the same level that is required by the government’s standards for accounting.”
Transparency and trust are not the only benefits to applying for and winning this honor. This process and accolade is also highly regarded by bond rating agencies, which helps the District receive a better bond rating.
Applying for this award by putting together the in-depth and comprehensive report to be judged at the international level by certified public accountants is not required by law. It is something District 25’s Business Department does, every year, to go above and beyond in financial reporting.
“The goal is to be completely transparent,” Mallek said. “This report is another method that holds us accountable to our constituents in a thorough way. We have highly qualified people working here in District 25, and the Business Office is no exception.”
This report contains the District’s audited financial data with supplementary and statistical information, which is then interpreted by Mallek. Essentially, going through this process and winning this award shows that the District is reporting on their financial information to the same high standards that private sectors have to report theirs. It is a public document and can be viewed on our website (WHERE?).
District 25’s financial profile is in the highest category of financial standing with the Illinois State Board of Education (ISBE).