Two ratings agencies that keep close tabs on the fiscal stability of businesses and government agencies have affirmed that the Douglas County School District continues to hold their highest bond ratings.
This week Moody's and FitchRatings both affirmed the existing underlying ratings of AA1 (Moodys) and AA+ (Fitch). These are among the highest ratings provided by these agencies and highlight the fiscal responsibility of the Douglas County School District.
One of the criteria in maintaining a strong bond rating is ensuring that an organization has an adequate financial reserve to deal with emergencies and other needs.
"The District's financial profile is healthy as a result of prudent changes to financial management. Over the last few years, conservative revenue projections and spending cuts have helped the District increase reserves and reduce its dependence on ballot initiatives for budget balance," FitchRatings said in a recent release.
A full break down of the District's budget and fund balance are available on the Budget Facts web page: www.dcsdk12.org/budgetfacts
Other factors considered in the bond ratings include whether the District has a strong management team, the capacity to address enrollment pressures, and DCSD's ability to manage unexpected occurrences-for instance potential cuts in state funding.
"Given the economic pressures facing Colorado school districts, it is quite an achievement to maintain one of the highest credit ratings in the state," said Dan O'Connell, director of RBC Capital Markets.