From the Harrison school district…

The Harrison Central School District has earned the rare AAA rating from Standard & Poor’s, making it part of an “exclusive club” of strong financial managers.

Harrison, Pelham, and Cold Spring Harbor on Long Island are among only three in New York state and just 27 of the nation’s 15,000 public school systems to receive the rating.

“School districts with the ‘AAA’ general obligation rating are as rare as the student who asks for more homework,” S&P said in its April 14 report.

Districts with triple A ratings demonstrate the ability to manage through all economic cycles, S&P said.

S&P said Harrison joins “this very exclusive club” due to its strong management and oversight and careful and conservative budgeting. S&P also cited its strategic planning, financial forecasting and diligent adherence to policies on reserves and investment. The credit report extolled the district management team, noting “We consider the school district’s practices strong under our Standard & Poor’s Financial Management Assessment (FMA) methodology. An FMA of strong indicates that practices are strong, well-embedded, and likely sustainable.”

The sound financial practices have reaped benefits for students, faculty and the Harrison community, S&P said, “As a result, the district has been able to expand its academic and professional development programs while keeping costs down and building reserves.”

Harrison Board of Education President David Singer said the trustees were pleased the district’s success had been recognized.

“The AAA rating from Standard & Poor’s reaffirms our confidence in the district administrative team to implement the board’s primary goals of high academic achievement, sound financial management and strategic long-range planning,” Singer said.

This is the second time in two years that the Harrison Central School District has been cited and rewarded for sound financial management. Moody’s Investor Services upgraded its credit rating last year.

Harrison is a high achieving district with four elementary schools, a middle school and a high school serving 3,500 students in Westchester County, NY. Newsweek magazine ranked Harrison High School in the top 100 in the nation in 2007 and the New York State School Boards Association has recognized Harrison for its exemplary teacher evaluation program. It is part of the Tri-States Consortium, a group of 40 elite high-performing school districts in Connecticut, New York and New Jersey.