Standard & Poor’s raised its rating on the Monroe School District by four notches to A-plus from BBB, citing improved management practices and a voter-approved revenue-limit increase that has enabled it to improve its finances.
The credit also benefits from its location in a stable service-based economy, with access to larger and more diverse areas such as Madison and Janesville. The district has a moderate overall net debt burden with limited capital needs.
“Through budgetary cuts and the additional revenues realized through the revenue limitation override, the district expects to post a general fund surplus of approximately $1 million in 2009 and break even or better operating results in 2010,” said analyst Kathryn Horan.
Monroe School District is located in Green County, 35 miles west of Janesville and 45 miles southwest of Madison. The district encompasses 70 square miles and provides pre-K-12 services as well as a prominent virtual-learning program that serves high school students.
