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INTRODUCTION

A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial
report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to
determine its eligibility for another certificate.

ASBO Certificate of Excellence

The District received the Association of School Business Officials (ASBO) International Certificate of Excellence in Financial
Reporting Award for its Comprehensive Annual Financial Report for the fiscal year ended June 30, 2014. This was the sixteenth
consecutive year that the District has achieved this prestigious award. The award represents a significant achievement by the
District and reflects the District’s commitment to the highest standards of school system financial reporting. The District is also
submitting this report to the Association of School Business Officials (ASBO) International for consideration of the Certificate of
Excellence in Financial Reporting award. This award will certify that the Comprehensive Annual Financial Report conforms to the
principles and standards of financial reporting as recommended and adopted by the Association of Schools Business Officials. This
award is granted only after an intensive review of the financial report by an expert panel of certified public accountants and
practicing school business officials. Management believes the Comprehensive Annual Financial Report for the fiscal year ended
June 30, 2015, which will be submitted to ASBO for review, will continue to conform to ASBO’s principles and standards.

Acknowledgments

The continued publication of this report is an indication of the District’s commitment to be accountable to our investors, the
residents of the Hudson City School District, and to our customers, the students.

The preparation and publication of this Comprehensive Annual Financial Report on a timely basis could not have been possible
without the cooperation of the entire staff of the Treasurer’s Office. Additional appreciation is extended to Derek Cluse, Business
Manager, for maintaining the District’s Capital Asset Records; to Doreen Osmun, Assistant Superintendent and Director of
Curriculum & Instruction, for her contributions to the Curricular Initiatives section; to Sheryl Sheatzley, Manager of
Communications and Alumni Outreach, for her work on the cover and design; and also to Julian & Grube, Inc. for their expert
guidance and assistance.

Respectfully submitted,

Kathryn L. Sines Phillip Herman
Treasurer Superintendent

HUDSON CITY SCHOOL DISTRICT

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