Hood River County School District, OR GO Rating Raised To 'AA-' On Improved Financial Position
Primary Credit Analyst:
Chris Morgan, San Francisco (1) 415-371-5032; email@example.com
Benjamin P Geare, San Francisco + 1 (415) 371 5047; firstname.lastname@example.org
SAN FRANCISCO (S&P Global Ratings) Jan. 25, 2019--S&P Global Ratings raised its underlying rating to 'AA-' from 'A+' on Hood River County School District, Ore.'s series previously issued general obligation bonds. The outlook is stable. The district will have about $83.7 million in governmental debt at the end of fiscal 2019.
"The rating action reflects our view of the district's sustained improvement in its available financial position to what we consider a very strong level," said S&P Global Ratings credit analyst Chris Morgan. "This occurred because the district took advantage of higher state funding formula revenue and better supplemental operating levy performance while holding back on spending growth in anticipation of rising pension contribution rates," Mr. Morgan added. The stable outlook reflects our view that the district will sustain a very strong available financial position as it manages a more challenging budgetary environment.
- U.S. State And Local Government Credit Conditions Forecast, Oct. 24, 2018
- Alternative Financing: Disclosure Is Critical To Credit Analysis In Public Finance, Feb. 18, 2014
Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.
07-24-2018 - Notice of Intent to Award Milk and Dairy Products
Request for Bid Milk and Dairy Products Due Date: 7/23/2018 Intent to Award: 8/07/2018Issuing Agency: Hood River County School District for Milk and Dairy Products to award Spring Valley Dairy Inc. Please direct any questions regarding this notice to Saundra Buchanan, CFO, email@example.com. Notice Date: 07/23/2018
HRCSD Awarded for Outstanding Financial Reporting
03-30-18 - Reston, VA – 2017 – The Association of School Business Officials International (ASBO) is pleased to award Hood River County School District with the Certificate of Excellence in Financial Reporting (COE). ASBO International’s COE recognizes districts that have met the program’s high standards for financial reporting and accountability. The school district earned the Certificate of Excellence for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ending 2017.
“The COE’s mission is to promote and recognize excellence in financial reporting, specifically through a district’s CAFR,” ASBO International Executive Director John Musso says. “The CAFR informs parents and other stakeholders about the financial and economic state of the district, making it an important communications tool for building trust and engaging with the school community.”
By participating in the COE program, school districts demonstrate their commitment to financial transparency. 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. A district’s participation in the COE program can facilitate bond rating and continuing bond disclosure processes.
The COE is proudly sponsored by ASBO International Strategic Partner VALIC, a division of the American International Group, Inc. (AIG). Learn more about ASBO’s COE program at asbointl.org/COE.
About ASBO International
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.
Sponsored by VALIC, the Certificate of Excellence (COE) award confirms the school business office’s commitment to financial accountability and transparency. Recognition through the COE program can help strengthen a district’s presentation for bond issuance statements and promotes high quality financial reporting.
For more than half a century, VALIC has served as a leading retirement plan provider for K-12 schools and school districts, healthcare, higher education, government, and other not-for-profit institutions. VALIC, the group retirement division at AIG, has more than $89 billion of client assets as of June 30, 2017 and manages plans for 19,000 employers serving approximately 1.8 million participants. VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries, VALIC Financial Advisors, Inc. and VALIC Retirement Services Company. Additional information about VALIC can be found at http://www.valic.com.