On Oct. 14, 果冻传媒app Independent School District received a AAA bond rating by the bond rating agency KBRA, making the central Texas ISD the first in Texas to receive two AAA ratings. Previously, Moody鈥檚 had given 果冻传媒app ISD a AAA rating.
A AAA rating, the highest a school district can achieve, indicates the lowest risk of default and ensures that the district will get the lowest interest rates when taking on debt, saving taxpayers money.
鈥淎 bond rating is equivalent to an individual credit score,鈥 said Eduardo Ramos, Chief Financial Officer, 果冻传媒app ISD. 鈥淭he higher your credit score, the better the auto loan you get. Having the highest bond rating will save millions of dollars in interest rate costs. This is a huge opportunity for the district in ensuring we receive the lowest financing costs when we sell future bonds.鈥
KBRA鈥檚 Rating Report stated that 果冻传媒app ISD鈥檚 AAA rating 鈥渞eflects strong financial management policies and practices and an experienced leadership team, as evidenced by the management team鈥檚 ability to successfully navigate through the COVID-19 pandemic despite the need to remit local tax revenues to the State as part of the States鈥 education funding redistribution scheme.鈥
Additionally, KBRA called out the district鈥檚 鈥渉ighly conservative debt profile,鈥 鈥渆xcellent financial management practices,鈥 and its reserve policy to keep at least 20% of its general fund budget in an unassigned fund balance, 鈥渁 level that KBRA considers to be excellent.鈥
果冻传媒app ISD鈥檚 challenges include recapture, which KBRA called 鈥渁 primary challenge for AISD achieving balanced operations,鈥 and enrollment, which was showing 鈥渋ndications of stabilization.鈥 果冻传媒app ISD, noted KBRA, 鈥渋s actively attempting to reclaim unenrolled students by modernizing school facilities.鈥
鈥淢anagement notes that modernized campuses have successfully attracted students and that reclaiming students is a key goal of the 2022 bond program through the potential modernization of further campuses.鈥