Issaquah School District superintendent’s contract renewed

July 1, 2014

The Issaquah School Board voted unanimously June 26 to renew the contract of Superintendent Ron Thiele, who just completed his first year in the position.

State law requires school boards to review their superintendent’s contract on an annual basis prior to July 1. Issaquah board members cited several reasons for retaining Thiele, including his work to help the district pass three levy measures in February.

The board felt his leadership in that area and his leading the charge during that campaign was strong, board President Marnie Maraldo said.

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Editorial: Bond ratings are good news

June 10, 2014

City and school district leaders should be applauded. While the story is the sort that many readers just gloss over, local taxpayers are set to save a bundle of money as a result of recent developments.

The city of Issaquah and the Issaquah School District both recently had their bond ratings upgraded. The city’s rating was bumped up to AAA — the highest possible — by Standard & Poor’s, while the district’s was raised to AA+ by the same agency.

Ratings are determined only after the rating agency goes over the fiscal policies of an agency with a fine-tooth comb. They look at financial management, assets, existing debt and budgeting assumptions.

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City achieves best possible bond rating

June 3, 2014

Standard & Poor’s upgraded the Issaquah’s bond rating to AAA — the highest possible score — in recognition of the city’s enduring commitment to fiscal responsibility.

The bond rating is a reflection of creditworthiness and affects the cost to the city of issuing debt. The upgraded rating helps lower the interest rates for the city’s bond sales, which reduces borrowing costs for the city and taxpayers.

“Our citizens will benefit the most from our upgraded rating,” Mayor Fred Butler said. “It’s the result of our sound fiscal policies and responsible management of the public’s dollars. Our commitment to the best possible practices is a top priority for our city team and elected leaders every day.”

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City considers setting up contingency fund

September 17, 2013

City Finance Director Diane Marcotte introduced plans for a city contingency fund during the Aug. 5 regular City Council meeting.

Previously discussed during Marcotte’s presentations to the council as a part of new financial policies to explore, she said a contingency fund could help prepare for major unexpected expenses as well as improve the city’s bond rating.

The introduction for the agenda bill explains the motivation behind the idea.

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