U-46 Board of Education to Honor Financial Services Department
Department recognized for its clear and transparent financial reports
ELGIN - School District U-46’s Financial Services department will be honored with an “Accent on Achievement” during Monday night’s Board of Education meeting. The department recently earned two awards for producing clear and transparent financial reports.
The Association of School Business Officials International (ASBO) awarded the District with a Certificate of Excellence in Financial Reporting for Fiscal Year 2021 and a Meritorious Budget Award for Fiscal Year 2022.
“U-46 is dedicated to sound fiscal management and budgetary policies, and our Financial Services department produces high-quality, user-friendly tools to allow our families, staff, and community to understand how the District manages its finances,” said U-46 Superintendent Dr. Tony Sanders. “I am grateful for their talent and hard work.”
Development of the Annual Budget Book, which is a plan for the upcoming fiscal period, requires not only excellent accounting skills but deep collaboration among all District departments. At ASBO, a committee of professional accountants and government auditors judge the entries, thoroughly reviewing the material against best practices and standards before determining if a Meritorious Budget Award is warranted.
The Certificate of Excellence in Financial Reporting is awarded to the District for its Comprehensive Annual Financial Reports (CAFRs), which must comply with accounting requirements established by the Governmental Accounting Standards Board. A CAFR contains the results of the prior year’s financial activities. A team of school finance professionals at ASBO review the submitted CAFRs and supporting documents to ensure they clearly communicate the governmental entity’s financial story.
Financial Operations Director Dale Burnidge leads the department’s work on financial reports. The Board of Education will recognize the department with an “Accent on Achievement” certificate at 7 p.m. Monday, June 20, in room 140 of the Educational Services Center. The U-46 Board of
Education meeting will also be streamed live on the District’s YouTube channel.
School District U-46 serves families in 11 communities: Bartlett, Elgin, Hanover Park, South Elgin, Streamwood and Wayne, as well as portions of Carol Stream, Hoffman Estates, St. Charles, Schaumburg, and West Chicago. In total, the District encompasses 90 square miles within the Fox River Valley, approximately 45 minutes west of downtown Chicago, and includes communities within Cook, DuPage and Kane counties. More than 36,000 pre-K through 12 graders attend the 57 District schools and programs. To learn more, visit the U-46 website, or like us on Facebook and follow us on Twitter.