The National Federation of Municipal Analysts Wants Extensive Charter School Disclosure
The National Federation of Municipal Analysts (NFMA) is
a not-for-profit association with the goals of promoting professionalism in municipal credit analysis and furthering the skill level of its members through educational programs and industry communication, providing an informed perspective in the formulation of legal and regulatory matters relating to the municipal finance industry, and facilitating the flow of information between investors and issuing entities. …Membership in the NFMA totals over 1,300, representing the major participants in the municipal market, including institutional investors, bond rating agencies, bond insurance companies, portfolio managers, investment banking firms and financial advisors. Beginning in 2013, the NFMA began a Student Membership category.
On September 28, 2016, NFMA published this 24-page draft of recommended best practices (RBP) for establishing charter school disclosure expectations that will help inform charter school investors.
From the September 28, 2016, Bond Buyer, Washington securities law section:
WASHINGTON – The National Federation of Municipal Analysts is urging charter schools to provide detailed financial, academic, and staffing information in primary and secondary disclosure documents. …The [RBP] draft constitutes NFMA’s first disclosure recommendations forThe National Federation of Municipal Analysts Wants Extensive Charter School Disclosure | deutsch29: