What is the mission of the COE program?
The mission of the COE program is to encourage and recognize excellence and transparency in the preparation and issuance of U.S. school district’s Comprehensive Annual Financial Report (CAFR).
What is the CAFR?
A Comprehensive Annual Financial Report (CAFR) is a set of financial statements that provides a thorough and detailed presentation of a school district's financial condition and goes beyond the minimum information necessary for fair presentation in conformity with generally accepted accounting principles (GAAP).
A CAFR includes three categorized sections: 1) introductory, 2) financial, 3) statistical. The introductory section contains the Letter of Transmittal, Organizational Chart, among other information. The financial section provides information on each individual fund and component unit. Finally, the statistical section is an important source of information regarding a school district’s economic condition; many schedules include 10 years of data to allow for broader context evaluation.
Why apply for the COE?
You receive constructive feedback on your CAFR to help you improve the clarity and completeness of future CAFRs. Earning the COE honors your school district’s transparency and full disclosure. Receiving the COE may help strengthen your district’s presentation for bond issuance. You also demonstrate to your community that your district is credible and committed to fiscal integrity.
COE recipients receive an award certificate, a plaque, and national professional recognition in our publications: School Business Affairs, Accents Online, and School Business Daily.
When is the application deadline?
Your district’s application deadline is 6 months after your district’s fiscal year end.
For example, if your fiscal year ends June 30, your application deadline is December 31.
If your fiscal year ends August 31, the application deadline is February 28.
Deadline extensions are available and are granted on a month-to-month basis. To request an extension, email COE@asbointl.org.
What are the required COE application materials?
Your COE application packet must include the following materials:
- Completed COE application.
- Cover letter specifying any criteria that do not apply to your school district.
- COE Checklist.
- Mandatory if the school district is applying for the first time, received a conditional or denied award from the most recent submission, or did not submit the previous year.
- Optional if the school district does not fit the criteria above, but it is still highly recommended (even if your school district received the award year the previous year).
- Review Team’s comments from the previous year.
- School district’s responses to the Review Team’s previous year comments.
- Comprehensive Annual Financial Report (CAFR) document.
Where do I send the completed application?
Submit application materials in electronic format to
COE@asbointl.org. If you submit your application packet by email, you must pay by credit card.
If you are unable to submit electronically, application materials and payment (check or credit card information) may be mailed to:
ASBO International
Certificate of Excellence
44790 Maynard Square, Suite 200
Ashburn, VA 20147
What is the application fee?
Application fees are based on your district’s total revenue. To be eligible for the ASBO member rate, at least one employee of the school district must be an ASBO International Professional Member. To join or renew your ASBO International membership, go to Join or Renew Today!
| Total Revenue, All Funds |
ASBO International
Member |
Non-Member |
| Under $10 million |
$660 |
$975 |
| $10–$25 million |
$885 |
$1,200 |
| $25–$50 million |
$985 |
$1,300 |
| $50–$100 million |
$1,085 |
$1,400 |
| $100–$250 million |
$1,185 |
$1,500 |
| $250 million–$1 billion |
$1,285 |
$1,600 |
| Over $1 billion |
$1,385 |
$1,700 |
My state doesn’t require a CAFR. Can I still apply for the COE?
We welcome your application to the COE program, however, your documents must conform to GAAP, and follow the
COE Checklist.. Please visit the
COE Resources page for additional information on preparing a CAFR.
Who reviews the CAFR?
Your CAFR is reviewed by a team of experienced school financial professionals who have received additional COE-specific training from ASBO International.
How long does the review process take?
The review process takes approximately 4–6 months.
Is there a list of school districts that have received the COE award?
Review the list of COE recipients on the ASBO International website.
Does a committee oversee this award?
The COE Advisory Committee oversees the award program.