Standard & Poor’s Ratings Services has recently affirmed its ‘AAA’ rating for Tamalpais Union High School District (TUHSD). The District’s rating was originally upgraded from ‘AA+’ to ‘AAA’ in 2010. According to the summary report from Standard & Poor’s, the financial performance of the District has been consistently positive and rating reflects a stable and strong property tax base, significant supplemental revenue from parcel taxes and good financial policies and practices. The report also commends the District for a “shift in its strategic attention to the costs associated with its projection of a multiyear enrollment increase trend”. TUHSD is one of only 17 districts in California and 71 districts in the nation to currently have a ‘AAA’ rating.
This rating was sought by the District in preparation for the refunding of its 2006 series of General Obligation bonds, which were approved by a 2/3 vote of the community in order to modernize and upgrade all five high schools. Refunding of bonds is similar to the process of refinancing a mortgage and the District anticipates a present value savings to taxpayers of approximately nine million dollars.
Tamalpais Union High School District has a long tradition of conservative financial practices intended to maximize revenue on behalf of the students and community. The Board of Trustees exercise oversight of all financial policies, practices and approves annual budgets and audits.