TEMPLE, Texas — The Association of School Business Officials International (ASBO) has recognized Temple Independent School District with the organization’s Certificate of Excellence in Financial Reporting (COE). ASBO International’s COE recognizes districts that have met the program’s high standards for financial reporting and transparency. The school district earned the Certificate of Excellence for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended 2023, marking the fifth consecutive year TISD has been recognized with the COE.
TISD’s ACFR features financial information, schedules, the annual audit report, and notes. In addition to those financial reports, districts must also submit an introductory informational statement describing a wide range of topics and a detailed statistical package that provides background for the financial report. The introductory narrative highlights everything from the district’s successes and major initiatives to community economic conditions, to access to health care and post-graduate educational opportunities. The statistical section includes information ranging from number of staff to student population, to tax rates and property values covering ten years of financial information for the district. The submission is a collaborative effort by the entire district finance staff. The finance staff was presented with the Certificate of Excellence at the TISD school board meeting on Tuesday (April 9).
“We take the responsibility of being good stewards of taxpayer dollars seriously and we are proud that this work has been noticed at the national and international levels,” said Dr. Bobby Ott, superintendent of Temple schools. “I am proud of our finance department, and all of our district/campus administrators for the part they play in making sure we provide a quality education in a transparent and efficient manner. This is an expectation of our community and one we expect to deliver every year.”
By participating in the COE program, school districts demonstrate their commitment to financial transparency. Applicants submit their ACFR for review by a team of financial professionals who provide feedback to improve future documents. If the report meets the requirements of the program, it may receive the Certificate of Excellence. A district’s participation in the COE program can facilitate bond rating and continuing bond disclosure processes.
“Our goal each day is to fund classrooms and extracurricular activities while maintaining transparency, compliance, and honesty,” said Brandy Stanford, chief financial officer for Temple ISD. “Our annual comprehensive financial report is representation of the truth about how we fund the quality education that our community deserves. I am proud of Temple ISD and the work that goes on behind the scenes to achieve these goals.”