Minuteman District Scores Highest Short-Term Bond Rating

LEXINGTON, MA – The Minuteman Regional Vocational Technical School District received high financial marks this month, scoring an outstanding bond rating and learning there were no audit findings.

The district was assigned an “SP-1+” rating by agency Standard and Poor's, the highest rating possible for short-term municipal bonds. It assigned the rating for an $8 million general obligation bond anticipation note for Minuteman’s high school construction.

Minuteman School District also received a clean bill of health from its auditing firm, Melanson & Heath; the company made no audit findings for fiscal year 2016 for the second year in a row.

"We’re very proud of these accomplishments," Superintendent Edward A. Bouquillon said in a statement.
"This is the result of a lot of hard work by many people, most notably Assistant Superintendent
of Finance Kevin Mahoney and his staff."

Sheryl Stephens-Burke, a representative from Melanson & Heath, met with the School Committee Tuesday to review the latest audit.

"Congratulations and sincere thanks are clearly due here," said Carrie Flood of Concord, vice-chair of the School Committee, in a statement. "Not only have Kevin [Mahoney] and other members of the District Administration taken appropriate steps to address findings that arose in prior audits, they have been proactive in terms of policy, procedure, and practice with regard to the ongoing management of District finances."

Image via Minuteman