Via my open records request:



Debt schedule

Standard & Poors Debt Rating September, 2024

“ai” summary:

Madison Metropolitan School District – S&P Rating Summary (September 2024)
Current Ratings
  • SP-1+ rating on $50M Tax Revenue Anticipation Notes (due Sept 2025)
  • AA+ rating on existing General Obligation debt
  • Outlook: Stable
Financial Strengths
  • Stable operating performance with conservative budget management
  • Strong cash flow coverage for TRANs (2.16x projected coverage)
  • Improved cash position since 2020 (reduced TRAN needs)
  • Manageable debt burden
  • Minimal pension and healthcare liabilities
Economic Indicators
  • Strong local economy (state government and University of Wisconsin)
  • Dane County metrics:
    • Per capita gross county product: 127.9% of U.S. level
    • Per capita personal income: 112.6% of U.S. level
  • Steady tax base growth from development
Key Challenges
  • Declining enrollment trend (expected to stabilize)
  • Staff shortages requiring competitive compensation
  • Environmental risks from potential flooding
Upcoming Events
  • November 2024 referendums:
    • Operating levy increase ($100M over four years)
    • $507M bond referendum for facility improvements
Financial Management
  • Reserve policy: 10-15% of expenditures (currently 17.4%)
  • Conservative budgeting practices
  • Regular long-term forecasting
  • Quarterly financial reporting
  • Three-year facilities plan updates
Rating Outlook
  • Downgrade possible if: Salary growth outpaces revenues, causing reserve decline
  • Upgrade possible with: Improved policies and higher reserves