CCSD Maintains Outstanding Credit Ratings

The Cherokee County School District continues to stand out as a model of excellence in financial leadership, once again earning top recognition from the world’s leading credit rating agencies!  This achievement reaffirms the School Board’s long-standing commitment to strong, responsible financial governance that directly benefits students, staff, and community.
 
Both Moody’s and Standard & Poor’s affirmed the school district’s historic-high credit ratings — Aa1 and AA — with Stable outlooks, recognizing CCSD’s exceptional financial management practices.  Moody’s ranking places CCSD among the top 3% of school districts nationwide for the strongest credit ratings. 

The rating reports highlight the district’s consistent success in maintaining balanced operations and strong reserves for more than a decade, achieved through thoughtful, conservative budget development and sound management. 

“The steps the School Board has taken have directly positively impacted the rating agencies’ views of the school district’s overall credit,” Doug Gebhardt, senior vice president for Davenport & Co, the district’s independent financial advisor, said in his report on the ratings at the School Board’s monthly meeting on Thursday. “The School Board’s policy credibility and effectiveness are strong as the district adheres to its well-established financial policies.  The district is extremely transparent, and its disclosure practices are extremely strong.”
 
These outstanding ratings also translate into real value for taxpayers by enabling more favorable borrowing and financing rates.  This reduces costs for important district investments aligned with the School Board’s laser focus on ensuring students are learning more, growing more, and achieving more in CCSD classrooms than they could anywhere else.

“It's an honor to be a part of a district that ensures that financial stability is an ongoing standard,” School Board Chair Janet Read Welch said.  “I am grateful for the amazing employees on our financial team who make sure every dollar is used efficiently and that the focus remains on the classrooms.  I am thankful for a Superintendent who continues to make decisions based on fiscal responsibility.  Thank you also to our School Board members for budget priorities that make teaching and learning the main focus.”  
 
Analysts cited the district’s solid financial foundation and noted that continued economic growth in the community could further strengthen CCSD’s already impressive position in the years ahead.  The ratings could decline if long-term liabilities significantly increase and/or reserves decline.
 
You can read the full reports online here.

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