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 the Government Finance Officers Association (GFOA) and the Certificate of Excellence in Financial Reporting  from the Association of School Business Officials International (ASBO). The awards recognized the school system’s Comprehensive Annual Financial Report (CAFR) for fiscal year 2019. 

“Every year for more than a 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.

Pellegrino attributes the recognition to the dedication and hard work of the FCPS Financial Reporting Department, led by Melissa Rollison. The staff’s commitment to accurately and clearly reporting FCPS financial transactions all year long is critical to the school system’s efficient and successful ability to share annual financial statements and reports that earn awards for transparency and clear communication, says Pellegrino.

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 considers the Comprehensive Annual Financial Report “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.