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Contact: Valerie Burke |
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Media Release |
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FOR IMMEDIATE RELEASE Edina Public Schools receives highest credit rating
Edina, Minn., September 8, 2011 – Edina Public Schools (EPS) recently received a top credit rating from two of the leading global rating agencies. Moody's Investors Service and Fitch Ratings bestowed their AAA ratings on the District, the highest assigned by both companies. The AAA ratings allow the District to obtain the lowest interest rates available when they borrow money by issuing bonds and certificates. "That the District has retained its AAA ratings despite significant national and local government financial uncertainty is a testament to its sound financial management and solid tax base," said Joel Sutter, executive vice president of Ehlers and a financial advisor for EPS. The District has long been recognized for its excellent financial management and has received the Minnesota Department of Education's Financial Management award for eight of the past nine years. The Edina community also maintains a strong tradition of supporting its schools. An April 2011 resident survey revealed that 97 percent of the residents surveyed felt they got a good value from their investment in EPS. "This reinforces the return on investment Edina Public Schools provides the community," said School Board Member Peyton Robb, who serves as chair of the School Board's Finance Committee. "That EPS is noted for its strong financial stewardship in the face of fluctuating state aid tells our community that we're continually looking for ways to innovate so that we don't overburden taxpayers."
About Edina Public Schools Edina Public Schools has six elementary schools (K-5), two middle schools (6-9), and one senior high (10-12). As Independent School District No. 273, it serves a large portion of Edina, a first tier Minneapolis suburb comprised of approximately 47,000 people. The Edina school system – with 578 teachers and 8,300 students – is consistently ranked as one of the best in the nation and is known for its educational excellence, with over 90 percent of high school seniors going on to college. Its web site is at www.edina.k12.mn.us.
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