S&P raised the rating based on its view of the district’s solid financial management practices, strong financial performance trend, and “very strong reserves.” S&P further stated it views the outlook for this rating as stable.
In addition to the improved credit rating, the Association of School Business Officials (ASBO) has awarded the Certificate of Excellence in Financial Reporting (COE) as a result of the preparation and issuance of the Comprehensive Annual Financial Report for fiscal year end 2008.
ASBO’s COE program was designed to enable school business officials to achieve a high standard of financial reporting. The COE is the highest recognition for school district financial operations offered by ASBO, and is only conferred to school systems that meet or exceed the standards of the program. This recognition marks 21 years IISD has received the honor.
