District 214 Recognized for Excellence in Finance

April 8, 2015 02:47 PM

The Association of School Business Officials International (ASBO) has awarded High School District 214 the Meritorious Budget Award (MBA) for excellence in budget presentation.
 
The MBA program promotes and recognizes excellence in school budget presentation and enhances school business officials' skills in developing, analyzing, and presenting a school system budget.
 
After a rigorous review by professional accountants and auditors, the award is conferred only on school districts that have met or exceeded the program’s stringent criteria.
 
"Preparing the Meritorious Budget and applying for the corresponding award demonstrates the importance the District and the finance team place on presenting a high-quality budget document to our community," said Cathy
Johnson, associate superintendent of finance and operations.
 
This is the fifth year the finance team has prepared and won the Meritorious Budget Award. For more information about the MBA, visit ASBO’s website: www.asbointl.org/MBA.
 
District 214 has also received a perfect 4.0 score from the Illinois State Board of Education (ISBE) based on the District's 2014 Annual Financial Report.
 
This is the fifth year in a row the District has received a perfect score. District 214 has received the distinction of Financial Recognition for each year since inception of the program in 2003. A district in the financial recognition category requires little or no review by ISBE.
 
ISBE developed the School District Financial Profile to help monitor the finances of school districts. Indicators of financial performance include Fund Balance to Revenue Ratio, Expenditures to Revenues Ratio, Days Cash on Hand, Percent of short-term borrowing available and Percent of long-term debt remaining.

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