Lewisville ISD Superintendent Dr. Jerry Roy announced for the third consecutive year, LISD received a AA+ bond rating from Standard and Poor’s Corp. of New York (S&P).
Roy said that the rating is credited to the leadership of the LISD Board of Trustees and oversight of the LISD financial department.
“Receiving a AA+ bond rating from one of the most well-respected agencies in the field is wonderful news for not only the district, but also the community,” said Roy.
The bond rating, essentially a credit rating, determines the amount of interest the school district has to pay on borrowed money. The better the rating, the less the district has to pay – savings that can amount to tens of thousands of dollars on a single loan.
Ratings are determined by looking at the district’s capital reserves, economic outlook, and fiscal management.
“Taxpayers should feel pleased with LISD’s strong financial practices,” Roy said.
“This rating shows the district’s ability to manage funds efficiently and responsibly which ultimately translates to great saving for our community.”