Events Calendar

Current Weather

Manatee Road Watch


Sean Tampa Bay yacht Management Bills Discount Center - New & used Furnature, Appliances and More!

The Bradenton Times Polls

Poll Question: Who are you supporting in November's Manatee County Commission race?

 Carol Whitmore  Terri Wonder More polls »

The Robyn Report with Robyn Davis Right Column CR 2 Banner Ad

Home
Change Text Size: Larger  Smaller

News Section: Local Government



Manatee School Board Given Update on Debt, Credit Rating at Workshop

Published Wednesday, June 25, 2014

BRADENTON - At Monday's workshop, the Manatee School Board was presented with an update on the district's debt situation, currently at $340 million, and its credit rating, currently a triple B minus rating. The board was advised that both are on a path to improve in coming years.

 

Created by former MCSD CFO Michael Boyer, who resigned from the district on Friday, the update was given by Deputy Superintendent of Operations Don Hall and Interim CFO Conley Weiss.

 

Hall said that the district is projected to be free of debt by the 2030-2031 school year.

 

Hall advised that the district's fund balance has been the biggest factor in the lowering of its credit rating. Jay Glover from Public Financial Management, the district's financial

advisor, told the board that the credit rating was one step away from non-investment grade. The district's current financial outlook projects that its three percent fund balance will be met, as required by the state.

 

Board member Bob Gause talked about the potential for borrowing more possibly increasing "as long as we keep our fund balance up."

 

Hall acknowledged that the board could borrow more in the future, but said that the likelihood of that happening would decrease over the years, as additional revenue from property taxes would help relieve the need to borrow in the future.

Join the conversation post Facebook comments here or on our site at the bottom of article.

 

  In Addition to Facebook Comments You Can Also Post Comments Below



Non-Facebook Comments:

Click here to add a Non-Facebook comment to this page




 Sign up for our free news subscription - a great way to stay informed!



News World Round UpSports Roundup

Manatee Rural Health Certificate
 


Obituaries

Name Date
David Rojas October 24, 2014
Monique Staves October 27, 2014
Patricia Gandley October 28, 2014
John Dean October 26, 2014
Viola Heckendorn October 25, 2014
Dennis Sabo October 25, 2014
Donald Smith October 25, 2014
James Powers October 22, 2004
Daniel Siglin October 21, 2014
All Obituaries






Copyright © 2009 - 2014 | The Bradenton Times | More than just an Online Newspaper | http://www.thebradentontimes.com/
405 26 Avenue Bradenton, FL 34205
Phone: 941-896-7857 - Privacy Policy - RSS Feed
Template provided by Free CSS Templates