School Districts Recognized for Exemplary Financial Reporting

ASHBURN, Va. - Oct. 2, 2018 - PRLog -- The Association of School Business Officials International (ASBO) congratulates the 560 districts that earned ASBO International's Certificate of Excellence in Financial Reporting (COE) award for fiscal year ending 2017. These districts have met the COE program's high standards for financial reporting and accountability based on their Comprehensive Annual Financial Report (CAFR).

"By earning the COE, these districts demonstrate to parents and other community stakeholders that the district is both credible and transparent, which builds trust," ASBO International Chief Operating Officer Siobhán McMahon says. "The application process itself is beneficial in that districts receive valuable feedback that they can use to improve the quality and clarity of future CAFRs." Participation in the COE program also can help strengthen a district's presentation for bond issuance.

Program applicants must submit their CAFR for review by a team of governmental audit and accounting professionals. If the CAFR meets the requirements of the program, the school district may receive the COE award.

The COE award program is sponsored by ASBO International Strategic Partner VALIC, a division of the American International Group, Inc. (AIG). Learn more about ASBO International's COE program at asbointl.org/COE.

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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.

About VALIC
For more than half a century, VALIC, an AIG company, has served as a leading retirement plan provider for K-12, Healthcare, Higher Education, Government and other not-for-profit institutions. VALIC has more than $100 billion in total assets under administration as of December 31, 2017, and manages plans for nearly 23,000 groups serving approximately 1.8 million participants. VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries, VALIC Financial Advisors, Inc. and VALIC Retirement Services Company. Additional information about VALIC can be found at www.valic.com.