Solanco School District business officials have earned the Certificate of Excellence in Financial Reporting from the Association of School Business Officials International (ASBO). The award honors Solanco's Comprehensive Annual Financial Report (CAFR) for the 2017-18 fiscal year, which ASBO says demonstrates Solanco's commitment to financial transparency and high standards for financial reporting.
According to an ASBO news release, the mission of the Certificate of Excellence is to promote and recognize excellence in financial reporting, specifically through a district's CAFR. The CAFR provides information about the financial and economic state of the district. Copies of Solanco's CAFR are available for public review. Readers may call 717-786-8401 for more information.
Applicants in the Certificate of Excellence program submit their CAFR for review by a team of professional auditors, who provide feedback to improve future documents. If the CAFR meets the requirements of the program, the document may receive the Certificate of Excellence. A district's participation in the Certificate of Excellence program can facilitate bond rating and continuing bond disclosure processes.
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