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FINANCIAL HIGHLIGHTS  Maintained a trend of a stable tax levy, including a decrease of over 1.5% in 2015-16 with another projected decrease in 2016-17  Benefitted from the support of the community to renew the operating referendum, allowing us to maintain class sizes, programing, and co-curricular opportunities for students  Reduced reliance on short-term borrowing  Maintained a strong Aa3 financial rating  Saved over $1.3 million in interest over the last five years by refinancing existing debt  Significantly reduced annual utility consumption through energy efficiency improvements  Completed a comprehensive facilities study identifying future needs as part of our long-range planning  Stabilized health insurance expenses by implementing a dual choice HMO offering  Reduced accrued retirement benefit liability by over 55% by restructuring the retirement benefit 23


2015 16 annual report