As a result of diligent financial planning and a strong commitment to fiscal accountability, the district has received a very high quality credit rating from Moody’s Investors Service.

The Aa2 rating the district received is determined based on the assessment of its fund balance, financial management, a strong wealth and income profile and tax base wealth. It is an important measure that is used by prospective lenders to determine the credit worthiness of school districts and other public entities.

“This report from an outside and independent financial institute is a clear indication of the current financial health of the district,” said Sean Leister, deputy superintendent of the Port Jefferson School District. “It reflects the district’s meticulous and mindful financial planning and will ensure lower interest rates for borrowing funds and significant financial savings for our residents for any funds borrowed.”

According to the report, and in comparison to other Moody’s rated school districts, Port Jefferson’s Aa2 rating is stronger than the median rating of nationwide districts. The cash balance as a percent of operating revenues (53.1 percent) is noted as superior and saw an impressive increase between 2013 and 2017. The fund balance as a percent of operating revenues (37.5 percent) is also stronger. The district’s debt burden is negligible and favorable and the 0.2 percent net direct debt to full value is significantly below the nationwide median and stayed flat between 2013 and 2017.