Tuesday, June 12, 2012

Rankin School District Gets Upgrade

News From RCSD

Brandon, Miss. – Standard & Poor’s Ratings Services (S&P) has upgraded its long-term and underlying rating of the Rankin County School District (RCSD) to ‘AA’ from ‘AA-‘ due to the districts maintenance of a very strong financial position despite cuts in state aid. RCSD is one of only three districts in the state with an AA or higher rating.

According to the summary released by S&P, the rating reflects the district’s inclusion in “the diverse metro Jackson area economy and labor market; strong wealth and income levels; very strong financial position and good management practices; and low overall net debt burden, coupled with a rapid amortization schedule with all debt due to be paid off in 15 years.”

RCSD’s Chief Financial Officer Kevin Brantley said, “This upgrade reinforces the sound financial practices encouraged by our superintendent and school board and shows that we manage our tax dollars well.”

Financial institutions use S&P ratings to evaluate the likelihood of repayment by private, public and government groups when they borrow money. The higher the bond rating, the lower the interest rate charged.

RCSD Superintendent Dr. Lynn Weathersby “In addition to validating our district’s excellent financial management, it is also a reflection on Rankin County, our excellent schools and the quality of life enjoyed by our friends and neighbors.”

The Rankin County School District is the third largest school district in Mississippi with over 19,400 students at 27 schools in eight attendance zones. It has the lowest tax rate of any school district in the metropolitan Jackson area.

More info at www.rcsd.ms

The Rez News

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