Dr. Joe May, DCCCD’s chancellor, said in response to the excellent rating, “With the support and approval of our board of trustees, DCCCD follows strong financial management practices over the long term, which ensures that we have the necessary capital for operations.”
For immediate release — June 1, 2017
News brief
(DALLAS) — Fitch Ratings once again scored the Dallas County Community College District as “AAA” this week on DCCCD’s general obligation bonds, stating that the district’s rating outlook is stable.
Dr. Joe May, DCCCD’s chancellor, said in response to the excellent rating, “The Dallas County Community College District, with the support and approval of our board of trustees, follows strong financial management practices over the long term, which ensures that we have the necessary capital for operations.”
“We consistently practice financial transparency, and we have been recognized not only by Fitch and other agencies, but also by the Texas Comptroller’s Office repeatedly for our business staff’s outstanding work,” said John Robertson, DCCCD’s chief financial officer.
Fitch said in its announcement, “The ‘AAA’ rating (for DCCCD) reflects the district’s significant independent ability to raise revenues; budgetary flexibility; ample reserve cushion; and limited historical revenue volatility. These provide the district with a high level of operating flexibility and anticipated financial resilience throughout the economic cycle.”
Fitch described DCCCD’s financial resilience as “superior” and expects the district to maintain that status throughout the budget cycle “due to economic flexibility, modest revenue volatility and a history of maintaining high levels of unrestricted cash/ investments.”