TCAPS Receives AA- Financial Credit Rating from S&P Global
Traverse City Area Public Schools (TCAPS) announced that Standard & Poors (S&P) Global Ratings assigned an ‘AA-’ rating with a stable outlook for $81.3 million series 2025 general obligation (GO) school building and site bonds. S&P Global Ratings also affirmed its 'AA-' rating on the district's existing GO debt.
The rating, labeled as stable, identified TCAPS good financial-management policies, practices under our Financial Management Assessment (FMA) methodology, highlighted by monthly budget-to-actual reporting to the board, rolling multi-year financial projections, and adherence to the district’s practice to maintain a minimum general fund balance of 10% of expenditures.
“We take great pride in the financial management of our public school system,” added Superintendent Dr. John VanWagoner. “We have a fiscal responsibility to our community and this report confirms our commitment.”
The full report is available to view on TCAPS website.