Moody's Investors Services shared an updated credit opinion this week for the Lower Merion School District. The District earned an Aaa (stable) rating.
Moody's cited the District's strong reserves as a strength and stated, "The District has a long history of sound fiscal practices and conservative budgeting, which has resulted in its robust financial position."
The report noted that the District had used $15 million from its General Fund Balance for the acquisition of properties for the new middle school. That means the District won't have to pay interest, which it would have had to do if there had been a need to borrow funds for the property acquisition.
While the report notes that the District plans to issue more in bonds to construct the new middle school, "the debt burden is expected to remain manageable."