NEW YORK (S&P Global Ratings) May 7, 2019--S&P Global Ratings revised the outlook on its 'AA-' rating on Eastport-South Manor Central School District, N.Y.'s general obligation (GO) debt to stable from negative and affirmed the rating. The outlook revision reflects S&P Global Ratings' opinion of the district's ability to stabilize reserves in fiscal years 2018 and 2019. The district has taken significant steps to right-size revenue and expenses by reducing staff and transportation costs and challenging staff and board of education spending habits. The district also eliminated $4.7 million in expenses for the fiscal 2019 budget; the majority of these cuts will provide reoccurring savings. Management will need to continue to balance revenue and expenses in a limited revenue-raising environment.
