News Release

Everett Public Schools

May 17, 2011

For more information:

Jeff Moore, 425-385-4150

Mary Waggoner, 425-385-4049

Finance department again earns top honors for performance

Financial management practices save taxpayers money

This year marks the 23rd consecutive year that Everett Public Schools’ finance department has

earned the

Certificate of Excellence in Financial Reporting

from the Association of School Business

Officials International (ASBO). It is the fourth year the department has applied for and also earned the

Certificate of Achievement for Excellence in Financial Reporting

(CAFR) from the Government

Finance Officers’ Association (GFOA).

Only seven of the state’s 301 school districts earned the ASBO award this year, and the GFOA honor

was given to only four school districts and 70 municipalities in Washington this year. The district’s

accuracy and the extent of its fiscal reporting and public accountability are acknowledged by both

awards. In particular, the CAFR report far exceeds the minimum reporting standards required of

school districts in Washington.

“This district has a high bond rating, and that means taxpayers pay lower interest rates on school

bonds. The bond rate is determined by sound financial reporting methods which result in these

awards. The awards themselves are also taken into consideration by the bond rating entities,” said

Jeff Moore, director of finance and operations. “The district’s financial management staff is very

experienced, professional and dedicated as demonstrated by this history of recognition.”

Superintendent Gary Cohn noted that “… the district just received another clean audit – the eighth

one in as many years. Earning recognitions for financial excellence and receiving a clean audit each

year from the state auditor are clear demonstrations of the fiscal care this district takes with public

funds. During these challenging economic times, such awards help maintain our public’s confidence

in the work we do.”

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