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S&P outlook, reserves and financial health: trustees hear monthly financial report
Summary
Finance staff told the board the district’s 23–24 financial report scored 'superior' with a 92, but S&P cautioned that reserves have deteriorated and the outlook could move to "double-A negative" unless fund balance is rebuilt in two years; trustees discussed reserves and potential corrective actions.
Finance staff reviewed the district’s first-financial report and S&P commentary during the Nov. 17 meeting, describing both strong indicators and near-term risks.
Moises Santiago summarized the 23–24 financial indicators and S&P feedback, telling trustees the district’s financial report earned a 'superior' designation and a score of 92 for the referenced year. He warned, however, that S&P noted a rapid deterioration in reserves and said the…
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