Following the latest bond rating upgrade in October, Round Rock ISD continues to be the only school district in the state of Texas to earn a AAA rating from both Moody’s and Fitch credit rating agencies.
The AAA rating reflects the District’s vibrant local economy and tax base, which continues to grow rapidly, well-managed financial operations, substantial financial reserves, good resident wealth and income profile, and a growing enrollment base, according to Moody’s. The rating also incorporates the District’s low pension burden and above-average debt profile that remains manageable and reflects the District’s ongoing rapid growth.
The direct benefit of the AAA bond rating is the lowering of the interest rate obtained when bonds are sold in the market. A lower interest rate reduces interest payments and provides relief to taxpayers by reducing the overall debt burden.
“Round Rock ISD continues to build upon its foundation of superior fiscal management as we collectively work as a team to ensure we are remaining responsible to our taxpayers and committed to our students and staff,” Kenneth Adix, Ph.D. Chief Financial Officer said. “Part of that success can be attributed to the guidance of our Board of Trustees. Moving forward, we will continue to work to maintain that reputation of excellence while keeping our District in the best possible fiscal standing.”
The District has maintained its AAA bond rating from both Moody’s and Fitch since 2015.