Thursday, April 27, 2023

Plymouth-Canton schools earns excellent financial rating

The prestigious financial agency Moody's Investors Service recently awarded Plymouth-Canton Community Schools one of the highest ratings available.

Officials said the district had completed another major milestone in implementing a voter-approved initiative to improve academic, athletic and other student resources. 

“Plymouth-Canton Community Schools is focused on supporting student needs at all levels for years to come, and doing so in a fiscally responsible and transparent way,” Superintendent pf Schools Dr. Monica L. Merritt said. “Moody's Aa2 rating is a recognition of P-CCS's commitment to being good stewards of our financial resources. Much of the important work of the bond program will enhance and preserve our facilities for many years to come.”

In awarding its Aa2 rating, Moody's report cited the district track record of spending within its means, sound budget management, and a stable financial profile despite enrollment changes during the COVID-19 pandemic across Michigan. Moody's also noted the ability of the district to attract students through the open enrollment period.

Merritt and the members of the board of education recently announced that the district successfully raised $99 million through bond sales as part of a voter approved election in 2020. The district offered $87.5 million in bonds, but received a premium of $12 million based on the  financial stability of the schools. The sale is the second of three scheduled actions toward generating the total $275 million voter approved measure. Work has already been completed on numerous projects throughout the district, officials said, including: major enhancements to school safety and security in the form of a centralized command center, call boxes, enhanced lighting, secured building entrances, cameras and other technology and security staff additions; improvements to students' learning experience, including flexible furniture upgrades in K-12 classrooms, upgraded technology, more academic resources, new playgrounds and more welcoming and secure environments and new state-of-the-art lighting and acoustics, as well as expanded seating and amenities at the auditorium. 

Work on a new natatorium and athletic center set for completion in 2024 has begun and planning for a state-of-the-art Innovation Hub is under way.

“At P-CCS, we are committed to fiscal responsibility and we are proud to receive this recognition by Moody's and plan to build on it in the days ahead,” said Plymouth Canton community Schools Board of Education Treasurer Patrick Kehoe. 

“Our board is proud to help support our school's mission of providing a world-class education for our students and keeping our promises to implement the recently passed school bond to take our district to the next level. We want to thank our community for their continued support of our district, staff, and students,” he added.