Jefferson County Public Schools’ (JCPS) commitment to financial transparency has earned the district a national award for the 18th year in a row.
The Government Finance Officers Association of the United States and Canada (GFOA) awarded the Certificate of Achievement for Excellence in Financial Reporting to the Jefferson County Board of Education for its annual comprehensive financial report for the fiscal year ended June 30, 2024.
JCPS has a long history of financial transparency, having won this same award every year since 2007, said JCPS Chief Financial Officer Eddie Muns.
“We go above and beyond what is required to provide 10 years of comparative data, in numerous different categories, to really explain who we are to the general public, taxpayers, parents, and our bond holders,” Muns said.
JCPS’ Annual Comprehensive Financial Report includes three main sections:
An introductory section that includes a letter of transmittal and information on the district, its mission and vision, and its primary initiatives
A financial section required of all Kentucky school districts that is audited by an external CPA firm
A statistical section that includes 10 years of comparative data in numerous categories
Of the three sections, only the financial section is required, Muns said. But the statistical section in particular “really goes to the heart of transparency,” he said.
An impartial panel determined JCPS’s report meets the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the report.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management, according to the GFOA.
The award represents extensive work by the finance division—particularly Executive Administrator Cecil Comstock and Supervisor Shani Hillard—as well as contributions from numerous other JCPS departments, Muns said.
“We started this many years ago and have maintained that standard of excellence every year after that,” Muns said. “It all comes down to the hard work from a team of people in finance who do this as a labor of love because they believe in transparency and how important it is to fulfill high standards for taxpayers.”