Wednesday, March 14, 2012

Washougal School District’s sound financial management noted by Moody’s

The Washougal School District received good news last week when it was notified by Moody’s Investors Service that the district’s sound financial operations warrant a bond credit rating of “Aa3”.  This is two steps above the most recent “A2” rating received during the most recent review in 2000.
While a credit rating takes into account may factors such as the size of the tax base, area employment and economic growth, Moody’s noted that the district has been able to sustain balanced budgets through difficult financial times and maintain prudent financial reserves.

“This is a strong credit rating, just one notch lower than our larger neighbors such as the Vancouver and Evergreen school districts.  It will definitely help Washougal School District taxpayers in the future by lowering borrowing costs,” said Superintendent Dawn Tarzian.  The Board of Directors, business manager, and district staff are to be credited with the thoughtful management of district resources.
The district applied for the rating in anticipation of refinancing a portion of the district’s outstanding bonds to provide lower interest rates.  If successful, it is anticipated that the Washougal School District will be able to pass along substantial savings to taxpayers in the coming years.