Piscataway Schools’ Bond Rating Upgraded
Piscataway Schools’ Bond Rating Upgraded
Posted on 10/03/2017
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Piscataway Township Schools’ bond rating has been upgraded to AA by S&P Global Ratings, the leading provider of data and business market analysis. This upgrade from the District’s former rating of AA- reflects Piscataway Township Schools’ sound financial operations. 

The enhanced bond rating translates into savings for Piscataway taxpayers, as the District will qualify for lower interest rates for any future debt service. Numerous indicators are used to determine the bond rating, including debt as a percentage of market value, financial management assessment, and available general funds. The District’s low to moderate debt burden, coupled with manageable future capital plans, also influenced the upgraded rating. 

“We take our commitment to Piscataway taxpayers very seriously,” noted David Oliveira, Business Administrator/Board Secretary. “Our primary goal is to provide our students with a high-quality education in a fiscally responsible manner. Our new bond rating lets our taxpayers know we are achieving that goal. We are well-positioned moving forward with sound financial practices, using conservative budgeting principles.”

“This bond rating confirms what our annual audits show – we are a district that spends our dollars carefully, and that every dollar spent goes toward educating our students and keeping our buildings clean, safe, and well-maintained,” said Teresa M. Rafferty, Superintendent of Schools. “I congratulate our Business Office for its diligence in seeking out savings wherever possible and ensuring efficient financial processes throughout the District.”