News and information for staff members and the Madison community
Vol. II No. 6 - April 10, 2007
The Madison School District received an Aa1 bond rating — one of the highest available — from Moody's Investors Service in its recent analysis of the district's financial position.
The Aa1 rating allows the district to borrow money long-term at some of the lowest rates possible. The Aa1 rating also places the district among a very small percentage of Wisconsin school districts which qualify in terms of its financial strength as evaluated by Moody's.
The report stated that, "Moody's believes that though the district's financial operations continue to face budget challenges, recent trends reflect management's growing commitment to address these shortfalls."
The specific impact of the high rating was realized in the bonds issued in March 2007 to construct the new school, add on to Leopold School and refinance some previous debt. The 4.02% issue rate was .25% less than had been planned for, thus saving the taxpayers of the district $501,181 over the term of the loan.
Even with the revenue limits imposed by the State causing major impacts on the operational resources of the district, the community and school district's financial base remains strong.
Last Updated: Tue May 1 16:08:32 2007
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