Fiscal Stewardship

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    District has history of strong fiscal stewardship of community resources

    Everett Public Schools has a five-year strategic plan that is ambitious, exciting, and is a comprehensive effort that guides the district and aims to bring community, district leadership and staff together to meet the needs of all students. The strategic plan guides the efficient use of resources on effective instructional practices. 
      
    District bond rating of Aa3
    Everett Public Schools has maintained a strong bond rating based on its creditworthiness and financial performance. Moody’s Investors Service has assigned its underlying rating of “Aa3” to the district’s unlimited tax general obligation bonds. 
      
    Credit ratings essentially give investors confidence about the district’s overall creditworthiness and its capacity and willingness to meet its financial commitments. Everett has the 3rd highest rating classification AA with Standard & Poor's (out of 22 classifications), and has the 4th highest rating classification with Moody's (Aa3). Continued high credit ratings translate into better interest rates which equals savings for taxpayers.  
     

    Audit process
    Each year the State Auditor’s Office (SAO) performs an annual audit of district programs and business practices. The district's audit reports can be found Budget/Where can I find more information.
    Award winning financial reports
    As the 13th largest school district in the state, Everett has been committed to reporting its annual fiscal activities in greater detail than minimally required in a format known as an “Annual Comprehensive Financial Report". The preparation of this document requires added effort by staff and provides a public benefit to our community through greater transparency. It is independently reviewed by outside agencies and national associations to confirm the accuracy of the information presented. 

    Everett Public Schools has received the Association of School Business Officials (ASBO) International Certificate of Excellence in Financial Reporting for the 2022-23 Annual Comprehensive Financial Report, as it has for the past 35 consecutive years. The district was also awarded the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for the sixteenth consecutive year. 

    The annual report is submitted to the national depository where investors who purchase the district’s bonds to support school construction can monitor our ongoing fiscal stability. This higher level of reporting supports the district’s high bond rating which benefits our community through lower tax rates.