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District earns AAA ratings as staff presents $462 million combined budget and plans for bond sale
Summary
Zions Bank's Alex Buxton told the board the district received AAA ratings from Moody's and Fitch ahead of selling voter-approved bonds. Business administrator Alan Kearsley presented a final combined budget showing $462 million in total expenditures across funds for 2025-26 and confirmed no change to the certified tax rate is recommended.
The Salt Lake City School District presented an updated budget summary and celebrated top-tier bond ratings as staff prepares to sell bonds approved by voters in a recent election.
Alex Buxton of Zions Public Finance told the board that Moody's Investor Services and Fitch Ratings each awarded the district the highest available rating, AAA. 'They went through that process, they came back to us and gave us the highest bond rating available, which is AAA, both agencies,' Buxton said. He added the ratings will reduce borrowing costs and that the district's management, reserves and local economy were called out in the…
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