At Monday’s Hermiston Board of Education business meeting, Superintendent of Schools Dr. Tricia Mooney announced that S&P Global reaffirmed the Hermiston School District’s AA- rating.
“It’s fantastic that the district is able to retain the AA- rating,” said Mooney. “The rating is indicative of the board of education’s stewardship in their governance and oversight of the district’s finances. Under the leadership of Katie Saul, director of Business Services, the work of our entire business department has been invaluable in maintaining this rating which equates to low interest rates, and savings to taxpayers.”
In its rating report, S&P Global highlighted the following strengths of the district:
Track record of operating surpluses, which have supported its maintenance of strong-to-very available fund balances in the general fund
Good financial management, with prudent budgeting practices, including monthly reporting on budget-to-actual performance and investments
A series of bonds are currently scheduled to be sold this week.
