Gwinnett County Public Schools (GCPS), Georgia’s largest school system, received good news recently as both Standard & Poor’s (S&P) and Moody’s Investors Services assigned the highest level AAA/Aaa rating to the district’s Series 2022 General Obligation (GO) Bonds. At the same time, both agencies affirmed their triple-A long-term rating on the district’s outstanding GO debt. GCPS is one of a small number of districts across the nation that has attained the triple-A bond rating from both Moody’s and S&P. It has held the top rating from Moody’s since 2002 and from S&P since 2008.  

Gwinnett County Public Schools’ favorable bond ratings are based on the school district’s multi-pronged risk management approach that includes strong financial management and comprehensive cybersecurity practices; a substantial capital plan and community support of the education special purpose local option sales tax (E-SPLOST) program; and economic expansion and diversity supported by participation in the Atlanta metropolitan area. Chief Financial Officer Joe Heffron notes, “The triple-A bond rating is a key indicator of our district’s fiscal health and the measures we have in place to responsibly and conservatively manage our budget and debt. In particular S&P cited the district’s robust cybersecurity risk mitigation plans and training, conservative revenue assumptions, monthly monitoring of budget-to-actual information, a formalized five-year financial forecast, a five-year capital improvement plan that is updated annually, a formal investment policy, as well as formalized policies regarding debt management and the general fund.”

Superintendent Calvin J. Watts was pleased with the news that the district once again garnered the coveted triple-A rating from both rating agencies. He said, “Gwinnett County Public Schools has demonstrated a history of strong fiscal accountability and we are committed to ensuring that remains the case. Our work to responsibly manage the budget benefits the district and our community in many ways while also ensuring that we are able to acquire the lowest interest rates possible on the sale of the bonds. This translates into more funds available for teaching and learning and operational supports, allowing the district to focus on how we can more effectively meet the needs of our learners.”