This week, Moody’s Investors Service affirmed the School District of Manatee County’s financial standing with an A1 issuer rating and upgraded our outlook from stable to positive — a clear indicator of our district’s sound fiscal management and financial health.
This positive outlook is a direct reflection of our balanced budgets, strong fund balance position, and commitment to responsible financial stewardship. It also affirms confidence in our ability to meet obligations, even as we navigate ongoing challenges.
We also want to address recent developments concerning federal funding. A recent freeze on certain federal allocations is expected to impact approximately $5.5 million in funds earmarked for our district. These funds support 37 staff positions and a number of critical educational programs.
While this news is certainly concerning, there is no cause for panic. Our team anticipated potential disruptions and took proactive steps to ensure stability. Thanks to strong financial planning and a healthy fund balance, we are able to absorb this short-term impact without eliminating any filled District or School-based positions or affecting student services.
In fact, we’re pleased to report that funding for the 21st Century Community Learning Centers has been restored, ensuring this vital program will continue to support students and families in our community.
To support a smooth transition and ensure financial sustainability, we have implemented the following temporary measures:
A hiring freeze for District-based positions (except those approved by the Superintendent)
A 1% discretionary budget reduction across all District departments
A freeze on out-of-county and out-of-state travel for all staff unless specifically authorized
School budgets and staffing remain fully intact – schools may continue hiring for school-based positions
"Although we are operating under tighter financial conditions, our outlook remains positive and focused," said Kevin Chapman, Interim Superintendent. "We are continuously monitoring the situation and will adjust our strategies as needed, always placing our students at the heart of every decision."
The affirmation of our A1 rating and positive outlook is a testament to the strength of our district — and to the trust and support of our community. Together, we will continue to navigate these challenges with transparency, responsibility, and an unwavering commitment to student achievement and safety.
For more Good News from the School District of Manatee County, please go to www.manateeschools.net/goodnews.