Superintendent's Blog

The International Association of School Business Officials (ASBO) recently awarded Glenbrook High School District 225 the Certificate of Excellence in Financial Reporting (CAFR) for the 2008 fiscal year.  About 400 districts across the country apply for the award each year, but only about 30 districts receive the distinction.  Placing it in perspective, there are approximately 870 school districts in Illinois alone.  The application process is lengthy and demanding, as well as the standards of success that must be met, but what does the award really mean to the district?

The CAFR award “validates the credibility of the school system’s operations and measures the integrity and technical competence of the business staff.”  The document assembled for review by ASBO includes the annual audit of district finances and includes trend data about the school community for the last 10 years.  In its finished form, the CAFR becomes an important reference document whenever the district seeks renewal of their bond ratings.  At the present time, the district enjoys AAA bond ratings from both Moody’s and Standard and Poor’s, which places it in the very elite of Illinois and the United States.  Whenever the school district seeks financing through bond issues, these ratings translate into lower interest rates and substantial savings for the taxpayers of District 225.

Assistant Superintendent for Business Affairs, Hillarie Siena authored the CAFR document while she was the Director of Business Affairs.  She is shown here in the picture with Skip Shein, president of the District 225 Board of Education and superintendent, Mike Riggle.  Her effort is a great example of how the business office staff goes above and beyond the requirements of their positions to serve the schools and the school community in the best possible manner.  Congratulations to Mrs. Siena and the entire District 225 business department on this great accomplishment!