Bradenton Herald Logo

Manatee schools credit outlook upgraded by Fitch | Bradenton Herald

×
  • E-edition
  • Home
    • Customer Service
    • Mobile & Apps
    • Archives
    • Buy Photos and Pages
    • Contact Us
    • Newsletters
    • Subscribe
    • Subscriber Services

    • News
    • Crime
    • Local
    • Databases
    • Education
    • Lakewood Ranch Herald
    • Lottery
    • Nation & World
    • Politics
    • Special Projects
    • Submit a News Tip
    • Weather
    • Weird News
    • Blogs & Columnists
    • Breaking News Blog
    • I Am Woman Hear Me Write
    • All Sports
    • Rays
    • Spring Training
    • Bucs
    • High Schools
    • FSU
    • UF
    • USF
    • Outdoors
    • Tennis
    • Blogs & Columnists
    • David Wilson
    • Alan Dell
    • Jason Dill
    • Politics
    • Elections
    • The Florida Influencer Series
    • All Business
    • Real Estate News
    • Retail
    • Small Business
    • Port Manatee
    • All Living
    • Food & Drink
    • Health
    • Pets
    • Religion
    • Blogs & Columnists
    • Cooking With Local Chefs
    • Gulf Coast Cooking
    • Cravings by Janelle O'Dea
    • All Entertainment
    • Arts & Culture
    • Fairs & Festivals
    • Comics
    • Puzzles & Games
    • Horoscopes
    • Restaurants
    • Local Events
    • Movies
    • Music
    • TV
    • Blogs & Columnists
    • Marty Clear
    • All Opinion
    • Editorials
    • Editorial Cartoons
    • Letters
    • Opinion Columns
    • Influencers Opinion
    • Submit a Letter
  • Obituaries

  • Classifieds
  • Jobs
  • Moonlighting
  • Cars
  • Homes
  • Place An Ad
  • Mobile & Apps

  • About Us

Local

Manatee schools credit outlook upgraded by Fitch

By Meghin Delaney

mdelaney@bradenton.com

    ORDER REPRINT →

September 13, 2016 09:03 PM

Bradenton

The Manatee County School District’s credit rating outlook was upgraded Tuesday, which officials heralded as good news and an indicator the district is continuing to move in the right direction financially.

Fitch Ratings, a global leader in credit ratings and research, raised the district’s rating to an A- from a BBB+.

“The rating outlook is stable,” a report read.

The credit rating increase is at least the second for the district in the last two years.

SIGN UP

Sign Up and Save

Get six months of free digital access to the Bradenton Herald

SUBSCRIBE WITH GOOGLE

#ReadLocal

“I think a lot of people can take pride in that, including the finance department and management here as well as the audit committee and the internal auditors,” board chairwoman Karen Carpenter said.

Chief financial officer Rebecca Roberts compared the increased rating from Fitch as a similar achievement to an increase in the district’s school grade, as deemed by the Florida Department of Education.

The announcement came before the start of the Manatee County School Board meeting, where the board authorized refinancing the 2016 certificate of participation to lower the interest rate and save the district money.

“We just potentially saved the district $3 million,” Carpenter said. “We’re very happy about that.”

In other financial news, the school board authorized at $28 million tax anticipation note, a short-term loan which helps the district cover expenses until the district receives property tax proceeds.

Last year, the tax anticipation note was for $30 million and Carpenter said when she first joined the board the short-term loan was closer to $50 million.

Because of his career in the banking and financial business, John Colon abstained from all the votes related to the tax anticipation note and the bonds.

In other business Tuesday:

  • The school board approved allowing a charter middle school for Rowlett Academy for Arts and Communication. It’s the first time the board has approved a charter application since Rowlett converted from a district magnet school to a public school.
  • The school board approved hiring Ron Ciranna as the deputy superintendent of operations and business services to replace Don Hall, who resigned from the district earlier this year.
  • The board approved moving a meeting scheduled for Nov. 8, the day of the general election, to Nov. 9.

Meghin Delaney: 941-745-7081, @MeghinDelaney

  Comments  

Videos

School Choice: Here are nine things you should know

Parkland one year later: ‘It’s just heartbreaking’

View More Video

Trending Stories

State wants to revoke license of charter school principal in Manatee County

February 18, 2019 03:46 PM

‘#MeToo’ sprayed on Unconditional Surrender statue. Police are looking for vandal

February 19, 2019 09:41 AM

Mom arrested after son shot himself. She and boy’s father were dealing drugs, cops say

February 19, 2019 11:26 AM

Homeless guy carried rattlesnake, said he was protecting it from cars, Fla. cops say

February 18, 2019 03:46 PM

3 children among 4 found dead after west Michigan shooting

February 18, 2019 07:56 PM

Read Next

89-year-old registered sexual predator exposed himself to group of children, reports say

Crime

89-year-old registered sexual predator exposed himself to group of children, reports say

By Sara Nealeigh

    ORDER REPRINT →

February 19, 2019 11:43 AM

An 89-year-old Florida man was arrested after Pinellas Park police say he exposed himself in front of children Sunday, according to multiple news reports.

KEEP READING

Sign Up and Save

#ReadLocal

Get six months of free digital access to the Bradenton Herald

SUBSCRIBE WITH GOOGLE

MORE LOCAL

‘#MeToo’ sprayed on Unconditional Surrender statue. Police are looking for vandal

Crime

‘#MeToo’ sprayed on Unconditional Surrender statue. Police are looking for vandal

February 19, 2019 09:41 AM
Mom arrested after son shot himself. She and boy’s father were dealing drugs, cops say

Crime

Mom arrested after son shot himself. She and boy’s father were dealing drugs, cops say

February 19, 2019 11:26 AM
Some of the latest arrivals at the Manatee County jail, Tuesday, Feb. 19, 2019

Crime

Some of the latest arrivals at the Manatee County jail, Tuesday, Feb. 19, 2019

February 19, 2019 08:08 AM

Health News

Murphy signs bill expanding family leave in New Jersey

February 19, 2019 12:09 PM

Business

Nebraska mayor unhappy with mental health center’s location

February 19, 2019 12:01 PM

Business

High court denies Maryland appeal of drug price-gouging law

February 19, 2019 11:57 AM
Take Us With You

Real-time updates and all local stories you want right in the palm of your hand.

Icon for mobile apps

Bradenton Herald App

View Newsletters

Subscriptions
  • Start a Subscription
  • Customer Service
  • eEdition
  • Vacation Hold
  • Pay Your Bill
  • Rewards
Learn More
  • About Us
  • Contact Us
  • Newsletters
  • News in Education
  • Archives
Advertising
  • Place a Classified Ad
  • Advertise with Us
  • Special Sections
  • Public Notices
Copyright
Privacy Policy
Terms of Service


Back to Story