Oxford School District’s fiscal responsibility upgrades credit rating

Published 5:50 pm Monday, February 12, 2024

S&P Global Ratings has announced an upgrade in the credit rating of the Oxford School District from AA- to AA, reflecting the district’s strong financial management and strong fiscal performance, a news release stated.

“We are pleased to receive this upgrade from S&P Global Ratings, which reaffirms our dedication to maintaining fiscal responsibility and delivering exceptional educational opportunities to our students,” said Superintendent Bradley Roberson. “This improved rating reflects the hard work and dedication of our entire school community, including our administrators, faculty, staff and supportive parents. I would like to especially recognize our business office staff, led by Chief Financial Officer Allison Wally, for their exceptional work.”

The news release also reported that “the AA rating reflects S&P Global’s assessment of the Oxford School District’s strong economy, stable tax base and healthy financial practices. The rating upgrade positions the district favorably in the municipal bond market, potentially leading to reduced borrowing costs and increased access to capital for future projects and initiatives. S&P Global’s decision to elevate the district’s rating speaks to the fiscal policies and effective governance implemented by the district’s leadership.”

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“Our upgraded rating is a testament to the collaborative efforts of everyone involved in our district’s operations,” Board Chair Carter Myers added. “It reinforces our commitment to responsible stewardship of taxpayer funds and our focus on maintaining high academic standards.”

The Oxford School District officials stated the district “remains dedicated to fostering an enriching learning environment while ensuring sound financial management practices. The upgraded rating from S&P Global serves as validation of the district’s continued progress and sets a solid foundation for future growth and success.”