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Montgomery Schools report stronger finances; S&P upgrades district rating three notches
Summary
District financial staff told the board the November 2024 financial snapshot shows revenues of about $39.6 million, expenditures of about $45.9 million year to date, and a general fund balance the district reported as roughly $86.4 million; S&P Global upgraded the district's credit rating three notches to A+ after a review.
The Montgomery County Board of Education heard a fiscal presentation Jan. 14 outlining the district's November 2024 financial position and an unexpected credit-rating upgrade from S&P Global.
Interim finance staff said year-to-date revenues as of November totaled about $39.6 million and year-to-date expenditures about $45.9 million, figures the presenter described as approximately 16% of the annual budget. The district reported a general fund balance of roughly $86.4 million, though staff noted portions of that balance are restricted by designated funding sources such as…
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