Round Rock ISD recently received its 13th consecutive Aaa financial rating, the highest rating a district can receive from Moody’s Investor Service.
Round Rock is currently the only school district in Texas to receive top ratings from both Moody’s and Fitch Ratings, with the district receiving a AAA from Fitch since 2015.
“We are proud to receive this Aaa rating for another year. It really speaks to the hard work of our entire team, as well as to the guidance of our board, ensuring that the District remains in the best financial position possible,” said Chief Financial Officer Dennis Covington.
The agencies rate districts based on several factors, including tax base, financial reserves, and resident wealth and income profiles.
The ratings can be compared to a credit score—the higher the rating, the better financially positioned the district is. That translates to lower borrowing rates and lower interest rates when a district has to borrow money. It also means districts can pay off debts more quickly.
Those elements combine to allow every taxpayer dollar the district spends to go further to support students and staff.
“Stewardship of the district’s assets is something we take very seriously, and these ratings reflect our commitment to financial responsibility,” Covington said.
