Monroe, N.C. -- Two international associations recognized Union Academy Charter School for its outstanding financial reporting standards, demonstrated by its excellent comprehensive annual financial report, or CAFR. A CAFR is a thorough and detailed presentation of the school’s financial condition.
The honors show the school’s commitment to transparency, as well as demonstrating its dedication to careful stewardship of public funds. Union Academy is the only charter school in North Carolina to receive these honors.
The awards were presented to the Union Academy Finance Department. An impartial panel judged the CAFR to meet the high standards of the program including demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the report.
“Union Academy carefully manages every dollar it receives,” said Chief Finance Officer Lynn Kroeger. “Our administrators, and especially our finance office staff, recognize the importance of accounting for the resources we receive from federal, state and local funds, as well as our families and supporters.”
This is the eighth year in a row the Government Finance Officers Association of the United States and Canada (GFOA) awarded Union Academy its Certificate of Achievement for Excellence in Financial Reporting. 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 for Union Academy.
Union Academy also received, for the ninth year in a row, the Certificate of Excellence in Financial Reporting COE from the Association of School Business Officials International ASBO. This award recognizes that the school has met the program’s high standards for financial reporting and accountability.