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Virginia Beach City Public Schools honored for financial reporting and accountability for 22nd year

Virginia Beach City Public Schools honored for financial reporting and accountability for 22nd year
Posted on 03/19/2019

The Association of School Business Officials (ASBO) International has awarded Virginia Beach City Public Schools (VBCPS) its Certificate of Excellence (COE) in Financial Reporting. This award is presented to school divisions that prepare a Comprehensive Annual Financial Report (CAFR) that exemplifies a commitment to financial reporting and transparency. 

“The CAFR informs parents and other stakeholders about the financial and economic state of the district, making it an important communications tool for building trust and engaging with the school community,” stated ASBO International Director of Recognition Programs Molly Barrie. ABSO further requires that the CAFR must go beyond minimum information that is in conformity with generally-accepted accounting principles. A team of professional auditors reviews each CAFR submitted by school divisions before awards are presented.

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