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District honored for 'spirit of full disclosure' in financial reporting

Treasurer Robert Kuehnle and Executive Assistant Sheri Gombosch display the Certificate of Achievement for Excellence in Financial Reporting awarded to Mansfield City Schools. Standing, from left, are treasurer’s office employees Leslie Watts, Lori Wilburn, Rhonda Berry and Char Bottomley.

   Mansfield City Schools has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for the district’s Comprehensive Annual Financial Report.

   The award commends the district’s “spirit of full disclosure” in financial reporting.

   In a letter to Superintendent Brian Garverick, Acting GFOA Director Tood Buikema said, “The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

   “The Comprehensive Annual Financial Report (CAFR) has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate its financial story…,” Buikema said.

   “We hope that your example will encourage other government officials in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting.”

   Treasurer Robert Kuehnle said the CAFR for the fiscal year ending June 30, 2016, is the most demanding of three audit options for submission to the state.

   “We elected to submit the CAFR, which is designed to show a comprehensive 10-year history of the district,” he said. “To my knowledge, this is the first time the district has prepared and submitted a CAFR, which required an additional two weeks to complete.

   “It was a completely clean audit – no findings, no issues.”

   Auditor of State Dave Yost has described the CAFR as “the gold standard” of audits.

   The Government Finance Officers Association is a major professional association serving the needs of nearly 19,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. The association is headquartered in Chicago with offices in Washington, D.C.

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