Parsippany Schools Earn Certificate For Financial Transparency

PARSIPPANY, NJ — The Parsippany-Troy Hills Township School District has been awarded the "Certificate of Excellence in Financial Reporting." The accolade, which comes from the Association of School Business Officials International, recognizes districts that have met the program's standards for financial reporting and transparency.

“The Comprehensive Annual Financial Report informs stakeholders about the financial and economic state of the district, making it an important communications tool for building trust and engaging with the school community," said ASBO Executive Director David Lewis.

By participating in the program, school districts can demonstrate a commitment to financial transparency. Applicants submit their reports to a team of financial professionals, who provide feedback to improve future documents.

If the report meets the requirements of the program, it may receive a certificate of excellence. A district's participation in the initiative can facilitate bond rating and continuing bond disclosure processes.

"This award confirms our district's true commitment to being transparent with our finances and reporting," said Board Vice President Alison Cogan, who chairs the Finance Committee. "It is an affirmation of the hard work put into carefully balancing the needs of our students, facilities and taxpayers, while maintaining the high educational standards our community expects."

Thanks for reading. Learn more about posting announcements or events to your local Patch site. Have a news tip? Email josh.bakan@patch.com. Subscribe to your local Patch newsletter and follow the Parsippany Patch Facebook page.