An Indiana University professor and one of his former students, an IU alumna, will share a major award.

Dr. Craig Johnson, Dr. Sharon Kioko and Dr. Bartley Hildreth have been awarded the Jesse Burkhead prize for best article in 2012 in the journal Public Budgeting and Finance. Johnson, a professor at the Indiana University Bloomington School of Public and Environmental Affairs (SPEA), directed Kioko when she was a SPEA doctoral student. She is now on the faculty at Syracuse University. Hildreth is a professor at Georgia State University.

The three experts in government finance wrote “Government-wide Financial Statements and Credit Risk.” It is an analysis of the impact of a new landmark regulation concerning accounting standards and reporting requirements for state and local governments. Johnson, Kioko and Hildreth show how credit rating agencies incorporate new information into their decision-making process and transmit such information to financial markets.

The award honors Jesse Burkhead, a Professor of Economics and Public Administration at the Maxwell School of Citizenship and Public Affairs at Syracuse and editor of Public Budgeting and Finance in its early years.

“Jesse Burkhead was an exceptional scholar and mentor to many public budgeting and finance scholars,” Johnson said. “I am especially gratified to receive the award on a paper coauthored with my former doctoral student, Dr. Sharon Kioko, currently assistant professor of public administration and international affairs at the Maxwell School.”

The award includes an honorarium and a plaque and it will be bestowed on Johnson, Kioko and Hildreth at the annual conference of the Association for Budgeting and Financial Administration, held in Washington, DC, in October.