Contact: Ann Hatch
214-378-1819;
ahatch@dcccd.edu
For immediate release — May 27, 2014
News brief
(DALLAS) — The Dallas County Community College District is “AAA.” That’s what Fitch Ratings said in May about DCCCD’s general obligation bonds, stating that the district’s rating outlook is stable.
Fitch said that DCCCD has maintained a strong financial profile and applies strong management practices. “The district’s recent financial performance reflects a continued trend of solid operating surpluses. Financial management is strong; the district pro-actively uses long-term planning for capital and operations, conservative budgeting and interim reporting practices.”
The firm added, “The district benefits from experienced, conservative financial management as well as a diverse revenue stream comparable to most community colleges in the state that provides a measure of financial flexibility … . A history of solid, positive operating margins stemming from revenue growth and expenditure control underpins the district’s strong financial position.”
The organization added, “Prudent financial management practices continue to support DCCCD’s credit profile … and the district has a solid market position.”
Ed DesPlas, DCCCD’s executive vice chancellor for business affairs, was pleased with the “AAA” general obligation bond rating from Fitch. “In short, our superior credit rating is based on the strength of Dallas County’s economy, combined with DCCCD’s revenue elasticity. The fact that members of our board of trustees are committed to low tuition and property tax rates as well as sound planning and conservative fiscal policy is critical,” said DesPlas.
For more information, contact DesPlas at (972) 860-7752.
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