Canutillo ISD Receives Top Tier Credit Rating Upgrade
CISD now among the best-rated school systems in the region.
Posted on 08/30/2019
This is the image for the news article titled CISD now among the best-rated school systems in the region.Canutillo ISD improved its credit rating and is now among the best-rated school systems in the region. Moody's Investors Service upgraded Canutillo Independent School District’s credit rating to Aa3, from A1

The upgrade to the Aa3 rating reflects the district's solid local economy fueling tax base growth, and steady operating performance and healthy reserves complemented by an improved revenue environment following the 2019 state legislative session. The rating further considers income and wealth levels that are below the nation, and slightly elevated debt levels, offset by low pension burdens.

“Combined with our academic achievements, such as the recent A-rating from TEA, and our financial standing, we are poised to continue our position as the premier district in the region,” said Canutillo ISD Superintendent of Schools Dr. Pedro Galaviz. “The professional staff and their hard work are the root of our success. We have recruited and hired people who support our mission.”

The District has been in a sound financial position the last several years. It passed a balanced budget for the 2019-2020 school year. And, the Board of Trustees approved a five percent increase for teachers, nurses, and librarians, while all other employees will receive a four percent raise, the largest pay increase in CISD recent history.

Earlier this year, for the third consecutive time, Canutillo ISD was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. Canutillo ISD is the only district in the region to receive this prestigious award three years in a row.