Ripon Schools Receive A+ on Financial Report Card

From the desk of the superintendent:

The Ripon Area School District recently had its financial records and practices carefully examined by Standard & Poor’s as part of the process for determining interest rates for the upcoming refinancing of the district’s bonds. The thorough review by professional analysts resulted in an A+ rating. This rating is higher than the district’s previous A rating that was given in 2006 for the last referendum and the highest rating for the district in more than 15 years.
The higher rating is recognition that the district is using the best financial practices for Ripon taxpayers. The district is being upgraded for sticking to sound financial practices that minimize risk and maximize fiscal responsibility. An added benefit of the A+ rating is lower interest rates when the district borrows money when refinancing bonds, issuing new bonds, or arranging cash-flow borrowing. Lower interest rates mean that less money is diverted from instruction for the district’s financial operations. “We’re very pleased that the top financial analysts have given us their seal of approval for running a fiscally responsible school district,” said Superintendent Richard Zimman. “These are tough economic times for our nation and our state’s schools, and we pledge to continue doing what is necessary to preserve the financial integrity of our school district for the benefit of our community’s taxpayers and children.”

This is great news as the district is considering a re-financing of their existing debt. Hats off to Doctor Zimman, Rick Ketter and the rest of the staff....