BURNSVILLE
District keeps its Aa2 bond ratingBurnsville, considered one of the most financially sound school districts in the state, recently had Moody's Investor Services affirm its Aa2 rating, the district announced.
The Moody's ratings are used by investors to determine the relative creditworthiness of securities being sold by school districts and other entities.
"That is a very, very strong rating," Joel Sutter, executive vice president of Ehlers, Inc., told the school board at a recent meeting. "I believe there are only 10 school districts in the state of Minnesota that have higher ratings. You are in strong company there."
A bond rating is similar to credit scores for individuals. Better ratings result in more favorable borrowing rates. Bonds are being sold now for $16.9 million for deferred maintenance over the next two years at Burnsville High School and several other schools.
"We expect the district's financial position to remain satisfactory over the near term, supported by sound reserves and conservative budgeting," stated the Moody's report.
Harriet Bishop team claims chess titleHarriet Bishop Gifted and Talented Elementary School earned its first Burnsville School District chess championship this month during the annual competition at Metcalf Junior High.
Harriet Bishop has the biggest chess club in the district with well over 60 members. It is coached by teacher Jessica Perry.
The new district individual champion is Zander Gorton, a sixth-grader at Harriet Bishop.