Rockwood School District Receives Standard & Poor's Highest Rating
Rockwood School District has retained its AAA bond rating with Standard & Poor's rating agency. The result of this high rating will allow Rockwood to realize interest savings throughout the length of the 2011 Bond Issue pay-back period. The report cites the district's conservative budgeting practices and proactive financial management as key factors to the positive rating.
Rockwood is one of only 68 school districts in the nation with a Standard & Poor's AAA rating. It is tough to make the grade and gain admittance to this group. In Missouri, only four school districts have been rated AAA, and Rockwood is the only district to achieve a Financial Management Assessment (FMA) score of ‘strong' for operational and financial characteristics. The FMA methodology indicates the district's practices are strong, well embedded, and likely sustainable.
"Maintaining our AAA rating is an important achievement, especially in light of the challenging financial environment," said Chief Financial and Legislative Officer Shirley Broz. "This rating, combined with our Moody's rating of AA2, helps save tax dollars by allowing the district better interest rates on bonds sold."
The AAA rating reflects Standard & Poor's view of the district's:
Full participation in the St. Louis metropolitan area economy;
Very strong income levels and extremely strong market value per capita indicators;
Very strong reserves that adhere to the district's fund balance policy, coupled with, what is considered, strong management practices; and
Low debt burden as a percent of market value.
Triple A Rated Public School District.......and the I pay for the school district in my big ass taxes!