Home News BUSINESS SERVICES DEPARTMENT RECEIVES HIGHEST RECOGNITION FOR EXCELLENT FINANCIAL REPORTING

BUSINESS SERVICES DEPARTMENT RECEIVES HIGHEST RECOGNITION FOR EXCELLENT FINANCIAL REPORTING

12/1/2021

Richland School District Two is being applauded for excellent business practices and fiscal transparency. The Government Finance Officers Association of the United States and Canada (GFOA) has awarded Richland Two the Certificate of Achievement for Excellence in Financial Reporting. The Business Services Department received the award for its annual comprehensive financial report for the fiscal year that ended June 30, 2020.

According to the GFOA, Richland Two has demonstrated a constructive “spirit of full disclosure” to communicate its financial story and motivate potential users and user groups to read the annual comprehensive report. Attaining the Certificate of Achievement represents a significant accomplishment as it is the highest form of recognition in the area of governmental accounting and financial reporting.

Senior Chief Financial Officer Dr. Harry Miley says this is the 34th consecutive year Richland Two has received the award. “Richland Two is fortunate to be in an excellent financial position. The school board and administrative leaders work tirelessly together to be good stewards of the money we are entrusted to handle on behalf of our citizens,” said Dr. Miley. “We will continue to strive to deliver premier financial services for our students, teachers, staff and community partners.”

Dr. Miley also noted Richland Two continues to maintain AA bond ratings from Moody’s Investors, and Standard & Poor’s (Aa1/AA). This saves taxpayers millions of dollars because the district does not have to carry bond insurance and gets better interest rates on bond projects. In 2018, voters gave the district permission to borrow $468.4 million dollars to create more equitable learning and athletic facilities. As of May 2021, the district has borrowed $235 million and, to date, the district’s debt-service millage has not increased due to the bonds issued.

The Richland Two Board of Trustees and administration are responsible for a general operating budget of about $315 million, 3,700 employees, more 28,000 students and 41 schools and centers.