The Kershaw County School District’s (KCSD) A1 bond rating has been reaffirmed by bond credit rating service Moody’s, which has o removed the “negative outlook” that had been attached to it, KCSD officials report.
“This is outstanding news and reflects the difficult decisions that had to be made by our school board during recent challenging financial times,” said Kershaw County School District Superintendent Frank Morgan. “To have the negative outlook removed in only 18 months is tremendous.”
KCSD Chief Financial Officer Donnie Wilson explained that Moody’s cited the increase in the school district’s general fund reserves, large tax base in close proximity to a metropolitan area and manageable debt burden as the reasons for its decision. He said Moody’s also felt the local economy was stable given there were no major changes in top taxpayers, and that Moody’s credited the school board with budgeting “conservatively.”
“This is good news,” said Morgan. “This is another indication of our commitment to be good financial stewards of our taxpayers’ funds.”