Moody's Investor Service recently updated the Hardin County Schools credit rating to Aa2. An Aa2 rating is deemed exceptionally high and is given to “high-quality” institutions with very low credit risk. Moody’s credits institutions with an Aa2 rating or above as having a “healthy and stable financial position.”
As a result of the financial stability and sound planning, The Hardin County Board of Education received news of substantial financial savings at its regular monthly meeting on Thursday, August 19, 2021.
Chip Sutherland, a managing director of Baird (the Board's financial management firm), notified the Board that the recent refinancing of an older bond saved more than $1.8 million for the district.
This savings and credit rating are paramount as the Board begins a renovation at Central Hardin High School.
“Hardin County Schools is very financially sound,” Sutherland said. “The Board, Superintendent Teresa Morgan and Chief Operations Officer John Stith are terrific stewards of the taxpayer's money. The financial moves they make always put savings back into the district. They also create opportunities to invest in the many future generations of students that will learn, grow and succeed in Hardin County Schools. The Central Hardin High School project is truly a result of the Board’s dedication.”
“Our Board of Education does an absolutely remarkable job in taking care of its resources,” HCS Superintendent Teresa Morgan said. “The high credit rating, its recent refinance, our legacy of sound financial moves and a bright financial future has allowed us to give the students of our district unprecedented opportunities for success. Our graduates walk away with experiences that will give them an advantage in their post-secondary education or the workforce. Every decision our Board makes is focused on our students. I’m grateful we have a Board dedicated to high student achievement.”