River Vale School District

609 Westwood Avenue

River Vale, New Jersey 07675

www.rivervaleschools.com

CONTACT: Margie Druss Fodor

(201) 358-9260

mfodor@rivervaleschools.com

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FOR IMMEDIATE RELEASE

RIVER VALE SCHOOL DISTRICT RECEIVES SECOND

MAJOR FINANCIAL ACHIEVEMENT AWARD

RIVER VALE, NJ, OCTOBER 21, 2003 – The River Vale Board of Education has received a second top award for excellence in financial reporting.

The Government Finance Officers Association of the United States and Canada recently honored River Vale schools with a Certificate of Excellence in Financial Reporting after reviewing the district’s 2002 Comprehensive Annual Financial Report (CAFR). An impartial panel judged the report and decided that the document clearly communicated a financial story. The judges also wanted to make sure the report could potentially motivate people to read it.

“We want River Vale residents to clearly understand how we are spending their tax dollars responsibly. This award tells us that we are definitely doing that, and we are so pleased to be recognized for our efforts,” River Vale Business Administrator Michael Rinderknecht said. The Certificate of Excellence was awarded to Rinderknecht and the Board of Education.

Schools Superintendent Dr. Frank Alvarez added: “We have always stressed financial accountability. Receiving this type of award for the second time from two major organizations certainly validates our business administrator’s and board’s accomplishments in developing a comprehensive and user-friendly financial document.”

The River Vale School District is one of six in New Jersey, and more than 400 nationwide, to receive this award for the year ending June 2002.

This is the second financial reporting award the district has received in the last year. This past spring, the Association of School Business Officials International awarded the River Vale School District with its prestigious Certificate of Excellence in Financial Reporting for excellence in the preparation and issuance of its 2002 annual financial report.

Board of Education President Sheryl Eaton said the district’s finances are in exceptionally capable hands.

“I am extremely proud of the hard work and excellent financial reporting performed by Michael on our behalf. I have the highest regard for Michael and his staff, and feel secure with his management of the financial affairs in our school district,” Eaton said. “It is a pleasure to work with Michael, and I speak on behalf of the River Vale Board of Education when I say that we congratulate him on his achievement.”

The Government Finance Officers Association is a nonprofit professional association serving about 14,000 government financial professionals. More information about the award is available online at www.gfoa.org; information about the River Vale School District is also on the Web at www.rivervaleschools.com.

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