Summary: Jefferson County School District Finance Corp., Kentucky Jefferson County Board of Education; Appropriations

S&P Global Ratings assigned its 'AA-' long-term rating to Jefferson County School District Finance Corp., Ky.'s anticipated $64.9 million series 2023A school building revenue bonds, issued for the Jefferson County Board of Education (the district). The outlook is stable. The bonds are secured by lease rental payments made by the Jefferson County Board of Education, as lessee, to the Jefferson County School District Finance Corp., as lessor. We rate these bonds one notch lower than the district's general creditworthiness (as reflected in the 'AA' issuer credit rating) to account for the appropriation risk associated with the lease payments. The district has pledged its best efforts to seek appropriations annually out of its operating budget and has considered the affordability of

...Financial indicators Total available reserves ($000) 303,104 113,418 55,344 Available reserves % of operating expenditures Very strong 24.0 9.3 4.4 Total government cash % of governmental fund expenditures 28.8 19.2 16.4 Operating fund result % of expenditures 14.8 5.0 -2.9 Financial Management Assessment Standard Enrollment 96,148 94,166 97,856 98,506 Debt and long-term liabilities Overall net debt % of market value Low 1.4 1.4 1.2 1.2 Overall net debt per capita ($) Low 1,722 1,578 1,264 1,268 Debt service % of governmental fund noncapital expenditures Low 3.1 3.5 3.5 Direct debt 10-year amortization (%) Fairly rapid 64 65 69 68 Required pension contribution % of governmental fund expenditures 2.6 2.3 2.4 OPEB actual contribution % of governmental fund expenditures 1.7 1.7 1.8 Minimum funding progress, largest pension plan (%) 86.6 69.6 66.8 EBI--Effective buying income. OPEB--Other postemployment benefits....

Summary