Virginia Beach City Public Schools Win Coveted Awards for Financial Reporting for Fifth Consecutive Year The Virginia Beach School Board is pleased to announce that the school division has garnered a prestigious award for its financial reporting. The Association of School Business Officials (ASBO) has awarded the Certificate of Excellence in Financial Reporting Award to the Virginia Beach School Board, specifically for the preparation and issuance of the school division's comprehensive annual financial report (CAFR). The document for which the awards were presented was the annual financial report for the fiscal year ending June 30, 2000. This is the fifth consecutive year VBCPS has been so honored for its financial reporting. The Association of School Business Officials (ASBO) International notified Vicki Lewis, Chief Financial Officer in the Department of Budget and Finance, that the award had been granted. Don Tharpe, Executive Director of ASBO, noted in his letter of notification, "The award represents a significant achievement by the School Board of the City of Virginia Beach and reflects your commitment to the highest standards of school system financial reporting." He goes on to commend the school division and staff "who worked so hard to earn the award." The Financial Reporting Award was designed by ASBO International to enable school business officials to achieve a high standard of financial reporting. The award is only conferred to school systems that have met or exceeded the standards of the program. Since its inception in 1972, the program has gained the distinction of being a prestigious national award recognized by accounting professionals, underwriters, securities analysts, bond rating agencies, state and federal agencies, and education, teacher, and citizen groups. The Association of School Business Officials International, founded in 1910, is a professional association, which provides programs and services to promote the highest standards of school business management practices, professional growth, and the effective use of educational resources. For more information about the award, call the Office of Business Services at 427-4382. ###