Parsippany Schools Awarded for Outstanding Financial Reporting

A Message From the Superintendent

Parsippany-Troy Hills Township Schools Awarded for Outstanding Financial Reporting

Dr. Barbara Sargent

The Parsippany-Troy Hills Township School District has been awarded the Certificate of Excellence in Financial Reporting by the Association of School Business Officials International (ASBO). ASBO International recognizes districts that have met the program’s high standards for financial reporting and transparency. The school district earned the Certificate of Excellence for its Comprehensive Annual Financial Report for the fiscal year ended 2021.

“The COE’s mission is to promote and recognize excellence in financial reporting,” ASBO International Executive Director David Lewis says. “The Comprehensive Annual Financial Report informs stakeholders about the financial and economic state of the district, making it an important communications tool for building trust and engaging with the school community.”

By participating in the Certificate of Excellence program, school districts demonstrate their commitment to financial transparency. Applicants submit their report for review by a team of financial professionals who provide feedback to improve future documents. If the report meets the requirements of the program, it may receive the Certificate of Excellence. A district’s participation in the COE program can facilitate bond rating and continuing bond disclosure processes. Committee, acknowledged the award and stated, “This award confirms our District’s true commitment to being transparent with our finances and reporting. It is an affirmation of the hard work put into carefully balancing the needs of our students, facilities, and taxpayers while maintaining the high educational standards our community expects.”

The Parsippany-Troy Hills Township School District prides itself on careful financial planning, oversight, and transparency. As a result of prudent financial decision-making from the Board of Education and district leadership, the district has succeeded in keeping within the state-mandated 2% allowable increase to the tax levy for the past five (5) consecutive years. Additionally, the district is able to manage a future expansion at Littleton Elementary School with Capital Reserve Funds. No referendum will be presented to the public.

Congratulations to our Interim Business Administrator Robin Tedesco, Comptroller Sue Dyskstra, and the smart members of our Business Department for their outstanding work and financial leadership. The school community is in strong hands.