FCPS Recognized for Financial Transparency

FCPS Recognized for Financial Transparency

Frederick County Public Schools (FCPS) has once again earned the Certificate of Achievement for Excellence in Financial Reporting from both the Government Finance Officers Association (GFOA) and the Association of School Business Officials International (ASBO). 

“Every year for the last decade, FCPS has earned national recognition for good stewardship of taxpayer dollars. The people of Frederick County can take pride in the fact that our school system manages the budget responsibly and transparently. Responsible financial stewardship is a hallmark of FCPS and the leadership that Chief Financial Officer Leslie Pellegrino provides,” says Superintendent Dr. Terry Alban.

Ms. Pellegrino attributes the recognition to the dedication and hard work throughout the year of Financial Reporting Manager Melissa Rollison and all FCPS Financial Reporting Department staff who keep the school system’s financial records in good order: “Our staff is committed to the school system’s goal to promote clear communication and transparency in resource allocation. The dedication that they bring to their work on behalf of taxpayers has resulted in earning this outstanding recognition for another year. The financial accountability FCPS provides to the public and the resulting honors FCPS continues to achieve keep our school system on an effective path to equip all students for success.”  

According to the nonprofit GFOA, which serves more than 20,000 governance finance professionals, attaining the certificate is the highest form of recognition in governmental accounting and financial reporting, and is a significant accomplishment for a government entity and its management. The GFOA award recognizes that the FCPS Comprehensive Annual Financial Report (CAFR) meets “the high standards of the program including demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate” the school system’s finances.

The ASBO Certificate of Excellence in Financial Reporting also recognizes FCPS excellence in issuing the CAFR. ASBO International Director of Recognition Programs Molly Barrie says that the Comprehensive Annual Financial Report is “an important communications tool for building trust and engaging with the school community.” The nonprofit ASBO International represents nearly 30,000 school business professionals worldwide. 

FCPS posts each year’s Comprehensive Annual Financial Report online at www.fcps.org/about/publications.