KISD recognized for financial reporting

By R. Hans Miller, News Editor
Posted 7/6/21

Katy ISD has been recognized with a certificate of excellence in financial reporting by the Association of School Business Officials International. ASBO has issued such awards for more than 45 years …

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KISD recognized for financial reporting

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Katy ISD has been recognized with a certificate of excellence in financial reporting by the Association of School Business Officials International. ASBO has issued such awards for more than 45 years in recognition of districts that adhere to the highest standards for their comprehensive annual financial reports – often referred to as CAFR.

“Achieving this recognition takes an extreme amount of hard work among our financial services employees and those individuals at each one of our campuses and facilities,” said KISD Chief Financial Officer Chris Smith.

In order to be recognized, a school district must have their financial affairs in order and apply for the recognition. The current award, announced July 2, is for the 2020 fiscal year. The district was also recognized for the 2018 and 2019 fiscal years.

Applicants from around the world submitted their applications for recognition which were then reviewed by a team of financial professionals who provide feedback to improve the documents in the future. A district’s participation in the program can help its bond rating and continuing bond disclosure process.

KISD also provides information regarding its financial data to the public through its Financial Services webpage at  https://www.katyisd.org/dept/bf/Pages/default.aspx. The information includes the KISD Financial Services Division’s mission statement, tax rate information, expenditures per student and other financial information that affects district residents and those who own property in the district.

“Our Comprehensive Annual Financial Report for the fiscal year ending in August 2020 is an important tool for building trust with our taxpayers and the school community,” Smith said.

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