Township High School District 113 Earns Multiple Awards for 2018 Comprehensive Annual Financial Report; Earns Moody’s Investor Service Highest Rating of Aaa
Highland Park, IL – October 4, 2019 – Township High School District 113 proudly announced that its fiscal year 2018 Comprehensive Financial Annual Report (CAFR) has been awarded the Certificate of Excellence in Financial Reporting from the Association of School Business Officials International (ASBO). The 2018 CAFR also earned the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA). The District has also earned a credit rating of Aaa for its series 2019 general obligation bonds, the highest possible rating from Moody’s Investors Service.
The Certificate of Excellence recognizes districts that have met the program’s high standards for financial reporting and accountability. According to the ASBO, school districts demonstrate their commitment to financial transparency through the process. Applicants submit their CAFR for review by a team of professional auditors, who provide feedback to improve future documents. If the CAFR meets the requirements of the program, the document may receive the Certificate of Excellence.
The Certificate of Achievement for Excellence is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment. The GFOA reports that the CAFR has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
“We are honored to have received our 27th consecutive Certificate of Excellence from ASBO, our second consecutive Certificate of Achievement from GFOA, and to again be recognized by Moody’s with the highest possible credit rating,” said District 113 Assistant Superintendent for Finance Ali Mehanti. “Everyone in the Business Office has worked incredibly hard and these accomplishments are a team effort. We strive every year to provide our community with high-quality financial information. We are so proud to be recognized for our efforts and we hope the community will take the time to review this important information.”
Founded in 1910, the Association of School Business Officials International (ASBO) is a nonprofit organization that, through its members and affiliates, represents approximately 30,000 school business professionals worldwide. ASBO International is committed to providing programs, services, and a global network that promote the highest standards in school business. Its members support student achievement through effective resource management in various areas ranging from finance and operations to food services and transportation. Learn more at asbointl.org.
Government Finance Officers Association is a major professional association servicing the needs of over 20,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services, and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, Illinois, with offices in Washington, D.C.
A Credit Rating is an opinion from MIS regarding the creditworthiness of an entity, a debt or financial obligation, debt security, preferred share or other financial instrument, issued using an established and defined ranking system of rating categories.
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Director of Communications & Alumni Relations
Township High School District 113
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