...Utah's largest school district provides educational services to approximately 75,000 students across 84 schools, serving grades K-12. The district's `AAA' issuer default rating (IDR) reflects solid revenue growth prospects, strong expenditure control, a low debt burden and exceptionally strong gap-closing capacity, supported by sound general fund reserves and a solid ability to raise revenues. The district benefits from a positive state funding environment, a very flexible labor environment and manageable benefits liabilities. While the growing student population generates capital and operational cost pressures, it also results in increased state funding. Growth is moderating because of flattening in-migration, competition from charter schools and a declining state birth rate. This should facilitate the school district's ability to respond to capital and operational needs....
