Lakes International Language Academy has received the School Finance Award for Financial Reporting from the Minnesota Department of Education for the 11th consecutive year. In addition, Volunteers of America of Minnesota, the charter school’s authorizer, has named LILA as a recipient of the 2017 VOA Finance Award of Excellence.
The VOA-MN named LILA and just three other schools out of the collection of 16 charter schools it authorizes. It considers some of the same criteria as the MDE, such as the school’s fiscal health as an indication of stewardship of taxpayer dollars, and it looks at additional calculations like sustainability.
“Over the past few years, VOA-MN has adopted stringent criteria beyond MDE’s State Finance Award standards, so earning the VOA award is a notable achievement,” LILA CFO Julie Lundgren said in a press release. “We’re honored to receive both awards and the recognition that LILA strives to bring outstanding transparency and accountability to our money management.”
All public schools are audited annually. Clifton Larson Allen issued a clean audit opinion with no findings for the school’s 2016 fiscal year.