Page 13 - 2016 Budget, Bond and Innovation Recommendations

CHERRY CREEK SCHOOL DISTRICT

BOND RATINGS

Assigned by Agencies (November 2015)

⊲ Moody’s – Aa1 General Obligation Bond Rating.
Obligations rated Aa1 are judged to be of high quality and are subject to very
low credit risk. “The Aa1 rating reflects Cherry Creek’s diverse economy and
favorable location within the Denver MSA, large tax base that is experiencing
growth, and its affluent and supportive district residents. The Cherry Creek
School District continues to maintain healthy reserve levels, although this level is
dependent upon the passage of mill levy overrides to supplement state funding.
The Aa1 rating also incorporates Cherry Creek’s manageable debt profile and
elevated pension burden associated with the statewide pension plan, solid
financial management, and liquidity.”
⊲ Standard & Poor’s – AA General Obligation Bond Rating.
“Debt rated AA has a very strong capacity to meet its financial commitments and
differs from the highest rated issues only in small degree.”

WHY A BUDGET (MILL LEVY)

ELECTION IS RECOMMENDED

⊲ The State of Colorado, through the use of the Negative Factor, is underfunding the
Cherry Creek School District by $50 million annually.
⊲ To maintain class size consistent with educational programs.

⊲ To recruit and retain a quality teaching staff for students.
⊲ To provide new instructional materials and support to implement Colorado
Academic Standards.
⊲ To prepare students for “College and Career Post-secondary Success.”

⊲ To provide instructional innovation with computers and other technology.
⊲ To provide safe transportation for students to and from school. BUDGET DEVELOPMENT

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