The Harrison Central School District’s assistant superintendent for business, Bob Salierno, received an award from the Government Finance Officers Association for the school district’s comprehensive annual financial report.
Salierno and the school district were awarded a certificate of achievement for excellence in financial reporting by the Government Finance Officers Association for preparing the district’s comprehensive annual financial report, CAFR. The certificate is the highest form of recognition in governmental accounting and financial reporting. The school district’s CAFR was judged by an impartial panel from another state that determined the district’s report clearly communicated its financial story and motivates potential users and groups to read the document.
Salierno told the Review the determination from the association helps the school district not only retain its AAA bond rating, but further aids the district’s ability to secure future borrowing. “This is a way of getting an outside accreditation to see how you measure up with other schools,” he said. “To be issued the award by an outside organization really says a lot about [our] district, and it will help with bonding for sure.”
Last October, voters in the school district approved a $46.5 million bond through a districtwide referendum. The bond is aimed at addressing infrastructural and overcrowding concerns in each of the district’s six schools. “Our bond reliance is going to be put on that [award],” Salierno said about the dependability of the district’s credit. He added that the CAFR helps the school district look into the future for ideas with future bonds. The report comprises data that reflects a 10-year trend.