Standard&Poor's Ratings Services affirmed its 'A+' long-term and underlying ratings on Johnson County Unified School District No. 231 (Gardner-Edgerton), Kan.'s existing general obligation (GO) debt. The outlook is positive. The ratings reflect what we view as the district's: Improved cash position, which is projected to continue to improve in the next several years; Access to the strong and diverse Kansas City, Mo. metropolitan area economy; Strong wealth and income levels; and Good financial management policies and practices. We believe these strengths are somewhat offset by: The constraints of the state school finance system, including restrictions that create low general fund balances and operating millage rate caps; and The district's enrollment-driven capital needs. An unlimited ad valorem property tax
