In response to the School District of Elmbrook's issuance of $6,760,000 General Obligation Refunding Bonds and the $3,235,000 Promissory Notes, Moody's has maintained the Aaa rating on the district's outstanding general obligation debt. This is the highest rating given by Moody's and Elmbrook is one of only five districts in the state to earn Aaa status.
According to Moody's news release, key factors in the District's rating include a large tax base, stabilizing enrollment, an average debt burden, affordable pension liabilities, and "well-managed financial operations."
Proceeds from the sale of bonds will go towards the funding of Burleigh Elementary's HVAC and electrical upgrades, remodeling and other capital improvement projects beginning this coming summer.
"Moody's highest rating confirms our District's approach to financial sustainability, as well as saves the district thousands of dollars each year in borrowing costs," said Kristin Sobocinski, Assistant Superintendent for Business Services.