The Business Services Department strives for excellence in financial reporting. The Illinois State Board of Education publishes the District 112 financial profiles, which are generated from the Annual Financial Report (AFR), form 50-35. Each year since 2003, the district has received Financial Recognition status and our financial score has been on a lateral or upward move in spite of the difficult economic times our state and district have been facing.
District 112 has been awarded the Certificate in Excellence in Financial Reporting from the Association of School Business Officials for our Comprehensive Annual Financial Report (CAFR). This award represents a very significant achievement and reflects the District's commitment to the highest standards of school system financial reporting. The Certificate of Excellence is the highest recognition for school district financial operations offered by ASBO International and confirms that the District’s Comprehensive Annual Financial Report (CAFR) have met or exceeded the standards set forth by ASBO International. The Certificate of Excellence validates the credibility of the District’s operations, measures the integrity and technical competence of the business staff, assists in strengthening our bond presentations, and provides the professional recognition the financial staff for a job well done.
The District has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for its excellent CAFR. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting. The award is given to the entities that meet the high standards of the program, which include the demonstration of full disclosure to clearly communicate our financial story. The District feels that high-quality financial reporting is imperative in order to be fully accountable to our Board of Education, the citizens of the community, and to others with an interest in our District.
District 112 has been awarded the Meritorious Budget Award from the Association of School Business Officials for excellence in budget presentation. The award represents a significant achievement by District 112's staff and a commitment to achieve and maintain the highest standards of school budgeting.
- 2020-2021 Meritorious Budget Award (pdf)
- 2019-2020 Meritorious Budget Award (pdf)
- 2018-2019 Meritorious Budget Award (pdf)
- 2017-2018 Meritorious Budget Award (pdf)
- 2016-2017 Meritorious Budget Award (pdf)
- 2015-2016 Meritorious Budget Award (pdf)
- 2014-2015 Meritorious Budget Award (pdf)
- 2013-2014 Meritorious Budget Award (pdf)
- 2012-2013 Meritorious Budget Award (pdf)
The District has been awarded the Recognition for Implementing Best Practices in School Budgeting from the Government Finance Officers Association (GFOA). The award is presented to school districts demonstrating progress toward implementing GFOA's budget process guidelines. GFOA has developed a series of Best Practices in School Budgeting, which clearly outlines steps to developing a budget that best aligns resources with student achievement goals. This document summarizes the key themes from those Best Practices which are available at www.gfoa.org.
- 2018-2019 GFOA Best Practices Recognition (pdf)