The Fairview Park City School District has received the Certificate of Achievement for Excellence in Financial Reporting for its annual financial report for the 18th year in a row from the Government Finance Officers Association of the United States.
The Certificate of Achievement is the highest form of recognition in the area of government accounting and financial reporting and its attainment represents a significant accomplishment by a government and its management.
The district has also maintained its Aa2 Moody’s bond rating.
Moody’s Investors Service, one of the nation’s leading credit rating agencies, has again recognized Fairview Park’s strong financial management practices in a credit analysis report released on Monday. According to the Moody’s report, Fairview Park City Schools has a stable outlook bond rating of Aa2, which is an excellent rating for a district of our size.
Bond ratings are an opinion of an organization’s financial stability and are a factor used to determine interest rates for municipal debt. Moody’s provides an update either through an Annual Comment, which includes information on the credit rating of the county, and other items such as key economic, demographic, financial and operating information related to credit factors; or through an updated credit analysis for a new or refinanced debt issuance, as is the case for this update.
There are only 27 districts out of 300 Moody’s rated districts in Ohio that have a better rating than Fairview.