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U.S. PUBLIC FINANCE

Appendix B: US K-12 Public School Districts Scorecard

Factor or
Sub-factor Weight Aaa Aa A Baa Ba B Caa Ca
Factor: Economy (30%)
Resident Income 10% ≥ 120% 100 - 120% 80 - 100% 65 - 80% 50 - 65% 35 - 50% 20 - 35% < 20%
(MHI Adjusted for RPP /
US MHI)* 1
Full Value per Capita 10% ≥ $180,000 $100,000 - $60,000 - $40,000 - $25,000 - $15,000 - $9,000 - < $9,000
(Full Valuation of the Tax $180,000 $100,000 $60,000 $40,000 $25,000 $15,000
Base / Population)
*2
Enrollment Trend 10% 2 – 4% 0 – 2% (2) – 0% (5) – (2)% (8) – (5)% (11) – (8)% (14) – (11)% < (14)%
(Three-Year CAGR in or
3
Enrollment)* > 4%
Factor: Financial Performance (30%)
Available Fund Balance 20% ≥ 25% 17.5 – 25% 10 – 17.5% 5 – 10% 0 – 5% (5) – 0% (10) – (5)% <(10)%
Ratio (Available Fund
Balance / Operating
*4
Revenue)
Net Cash Ratio (Net Cash 10% ≥ 25% 17.5 – 25% 10 – 17.5% 5 – 10% 0 – 5% (5) – 0% (10) – (5)% <(10)%
*5
/ Operating Revenue)

26 JANUARY 26, 2021 RATING METHODOLOGY: US K–12 PUBLIC SCHOOL DISTRICTS