Summary: Stanislaus Union School District, California; General Obligation

S&P Global Ratings assigned its 'A+' long-term rating to Stanislaus Union School District, Calif.'s estimated $12.15 million election of 2020, series 2024B general obligation (GO) bonds and estimated $10.3 million series 2024 refunding GO bonds. At the same time, S&P Global Ratings affirmed its 'A+' underlying rating (SPUR) on the district's previously issued GO and refunding bonds. The outlook is stable. Unlimited ad valorem taxes on all taxable property within the district secure the district's GO bonds. Proceeds from the series B GO bonds will be used to finance school construction projects and to improve school facilities. Proceeds from the refunding bonds will be applied to refinance the district's 2014 refunding GO bonds. Stanislaus Union School District is located in

... 2023 2022 2021 Market value per capita ($) Extremely strong 139,485 129,748 122,195 118,620 Top 10 taxpayers % of taxable value Very diverse 9.4 9.9 10.0 10.9 Financial indicators Total available reserves ($000s) 11,000 8,220 8,614 Available reserves % of operating expenditures Very strong 19.8 16.0 18.7 Total government cash % of governmental fund expenditures 0.0 0.0 0.0 Operating fund result % of expenditures 21.4 2.2 4.5 Financial Management Assessment Standard Enrollment 3,297 3,392 3,390 3,431 Debt and long-term liabilities Overall net debt % of market value Low 1.6 1.5 1.6 1.4 Overall net debt per capita ($) Moderate 2,301 1,933 1,968 1,687 Debt service % of governmental fund noncapital expenditures Low 3.5 2.9 2.3 Direct debt 10-year amortization (%) Average 49 52 47 33 Required pension contribution % of governmental fund expenditures 9.1 8.3 8.1 OPEB actual contribution % of governmental fund expenditures 0.0 0.2 0.2 Minimum funding...

Summary