Posted: Wednesday, August 5, 2015
GCS Finance Department Earns Certificate of Excellence Award
The Finance Department of Greenville County Schools has earned the Certificate of Excellence in Financial Reporting Award for the 20th consecutive year. The award is presented annually by the Association of School Business Officials International (ASBO) to programs that have met or exceeded the ASBO’s high standards for financial reporting and accountability.
Sponsored by VALIC, the Certificate of Excellence award confirms the GCS Finance Department’s commitment to financial accountability and transparency. Recognition through the COE program can help strengthen a district’s presentation for bond issuance statements and promotes a high level of financial reporting.
“Effectively managing the District’s revenue funds, as well as the many financial transactions within these funds, is the primary reason the District received this recognition,” said Jeff Knotts, Executive Director of Finance. “Adding to that, our strong internal financial controls and Board policies have helped the District achieve the highest credit rating of any School District in South Carolina and the highest credit rating possible for a school district in South Carolina. This high credit rating allows the District to borrow funds at a low interest rate which allows more of the funds to be used for operational purposes instead of interest expenses,” he added.
The Finance Department has also earned recognition for excellence in financial reporting for 28 consecutive years from the Government Finance Officers Association (GFOA).