The Wyandanch Union Free School District is pleased to announce that Moody's Investors Service has upgraded the district’s credit score.
“We are very pleased to report this news to our community,” said Superintendent of Schools, Dr. Gina Talbert. “This is a reflection of the diligent work of the Board of Education and the leadership team at Wyandanch Union Free School District.”
The upgraded credit score reflects the district's significant improvements of reserves and liquidity in fiscal 2020 and 2021 driven by strong expenditure controls and savings through the pandemic.
“The district is making great strides to ensure our finances continue to improve,” said Board of Education President, Ms. Latesha Walker. “We have remained committed to our responsibility to use taxpayer funds efficiently and effectively and we will continue to take this responsibility very seriously.”
In its report, Moody’s stated the improved credit score reflects the district's ability to repay debt and debt-like obligations without consideration of any pledge, security, or structure features. The fiscal 2022 operations are also trending favorably, and the district should see further improvement in fund balance.
“We are pleased that Moody’s has acknowledged the progress the district has achieved in the area of fiscal management, said School Business Administrator Mr. Richard Snyder. We will maintain our strong oversight of the district’s finances as we continue to improve opportunities for all scholars.”
The positive outlook reflects Moody’s expectation that the district's reserve position will continue to improve through active management and reporting of operations.