Lakota Local Schools Honored with Prestigious Financial Reporting Awards for 24th Consecutive Year

Lakota Local Schools is proud to announce that it has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) of the United States and Canada and the Certificate of Excellence in Financial Reporting from the Association of School Business Officials International (ASBO) for the 24th consecutive year. These esteemed awards recognize the district’s Fiscal Year 2023 Annual Comprehensive Financial Report (ACFR).

“It is a great honor to receive both of these awards for Fiscal Year 2023, my first year as Lakota’s Treasurer and CFO,” said Adam Zink. “It is a testament to the hard work and commitment my team and I put into transparency and financial operations every day to serve Lakota Local Schools and the community.”

The ACFR is a comprehensive document that outlines the financial activities and position of the school district, adhering to the accounting standards set by the Government Accounting Standards Board. This report is also a key component in earning the Auditor of State Award with Distinction, which Lakota has achieved for 10 consecutive years. “Beginning my career at the Auditor of State's office, I know how difficult it is to meet this high bar,” noted Zink. “Receiving these awards has been a personal goal of mine, and is the level of expectation we strive to meet every day in the finance department. The support from the Lakota Board of Education and the dedication of our finance team are crucial in achieving these high standards.” 

An impartial panel of judges reviewed Lakota’s ACFR and determined that it met the GFOA’s stringent standards, demonstrating a strong commitment to transparency and clear communication of the district’s financial status to the public.

Participating in ASBO International’s Certificate of Excellence (COE) program is another example of Lakota’s dedication to financial transparency. School districts in the COE program submit their ACFRs for review by a team of financial professionals who provide valuable feedback for future documents.

“On behalf of the Board, we extend our congratulations to Adam and his team,” said Lakota Board of Education President Julie Shaffer. “These awards are a testament to our team’s commitment to fiscal responsibility and transparency to our taxpayers and community.”

ASBO International Executive Director Jim Rowan praised Lakota’s achievement, stating, “(The Certificate of Excellence in Financial Reporting) represents a significant achievement and reflects (Lakota’s) commitment to transparency and high-quality financial reporting. Communicating the financial and economic state of a district is essential in building trust with the school community.”

Adam Zink also expressed his gratitude: “I want to thank the Board of Education for their unwavering support, and I am deeply appreciative of the finance team’s dedication to maintaining these high standards. Additionally, I thank all Lakota staff members whose attention to our processes ensures our success in financial management.”

The GFOA’s Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, signifying a significant accomplishment for Lakota Local Schools and its management. This recognition highlights the district’s excellence in financial practices and its commitment to transparency and accountability.