It is with great excitement to announce that the Newark Board of Education is the recipient of the Meritorious Budget Award (MBA) for Fiscal Year 2022-2023. This esteemed award, presented by the Association of School Business Officials International (ASBO), has been bestowed upon the District for the 16th consecutive year. It is noteworthy that NBOE is one of only two districts in New Jersey to receive this award. More than 30 states and over 130 districts nationwide apply for this award annually. Each participating district's application is reviewed and evaluated by a committee of school business professionals from across the globe. The criteria for evaluation include organizational structure, detailed financial reporting on each fund, major sources of revenues and expenditures, long-range financial projections, enrollment data, and graduation rates and testing proficiency scores.
Furthermore, the District has been awarded ASBO International's Certificate of Excellence (COE) in Financial Reporting for its exceptional preparation and issuance of the fiscal year-end 2022 Annual Comprehensive Financial Report. This marks the eighteenth consecutive year that the Certificate of Excellence has been awarded to the District. The finance team at NBOE is not only proud of this achievement, but also honored to be recognized for their excellence in financial reporting and school budgeting best practices. This award is a testament to Newark's unwavering commitment to financial excellence, transparency, and fiscal responsibility. School Business Administrator Valerie Wilson remarked, "The District's ability to continuously attain both of these international recognitions is a major achievement. The financial team is to be commended for their competence and their commitment to excellence."
The District will be recognized for both of these achievements at the ASBO International Annual Conference & Expo in October 2023.