Financial Management & Efficiency
Optimization of resources, including financial resources, is a key strategic goal area in the school district’s strategic plan.
In a recent international accreditation process, AdvancEd (now known as Cognia) commended the school district on its proactive fiscal planning and actions that have consistently placed the system on a firm financial foundation.
The district’s sound financial management has also been recognized multiple times by Standard & Poor’s (S&P), the nation’s second-leading bond and corporate debt rating firm. It has rated the school district as an “A Plus” according to an S&P financial analysis. This saves the school district significant capital interest costs on bonds used to build new schools and make other major capital improvements. S&P establishes ratings on thousands of school districts around the nation. The ratings are opinions about an organization’s credit risk and financial management.
Excellence in Financial Reporting
The Georgia Department of Audits and Accounts has honored the Bulloch County Board of Education and its Office of Business Services multiple times with the Award of Distinction for Excellent Financial Reporting for the district’s annual fiscal year financial audits.The award is presented annually to qualifying public school systems and two-year and four-year colleges and universities in Georgia, who strive not just for best financial practices but better. Annually fewer than 35 school systems receive the award out of the state’s 181 public school districts, so this is strong evidence of the school district's commitment to accountability and transparency.
This award was created in 2014 to recognize excellence in financial reporting and controls. It encourages governmental organizations to go beyond the minimum requirements of generally accepted accounting principles and recognizes individual organizations that are successful in achieving this goal.
To receive the award, organizations must meet the following criteria:
- Provide full supporting documentation to substantiate financial statements;
- Provide financial statements in a timely manner;
- Ensure all evidence is easy to locate and use for audit;
- Have responsive managers that resolve all accounting standards and presentation issues in a timely manner;
- Have key staff readily available and cooperative during the audit and not delay finalizing the audit;
- Have no significant deficiencies or material weaknesses noted during the audit.
- Must have no more than three to five control deficiencies reported within the management letter;
- Have a clear, unmodified audit opinion; and
- Comply with all Transparency in Government requirements.
For more information about the financial efficiency of our school district and its schools, visit our Financial Efficiency Rating page.