Portage schools’ finance grade at top of their class

The Portage Township Schools credit rating is AA+, the highest a school district can achieve.

The S&P rating is “extremely positive and not always obtained by school districts across the state of Indiana,” Superintendent Amanda Alaniz told the School Board on Monday.

“It makes our debt more attractive to bondholders and buyers, so we get lower interest rates when we go to sell bonds,” director of finance Nicholas Gron said.

Not many school districts achieve this level, he said.

Portage Township Schools has held the same rating since 2017.

The Distressed Unit Appeals Board requires all Indiana school districts to produce an annual fiscal indicator report. Portage’s shows slight increases in fund balances despite declining revenue.

Federal stimulus funds have helped the district pay for staff, technology, HVAC and indoor air-quality upgrades, remediation, social emotional programs and hearing-loss programs.

The declining enrollment — down 13% since 2014 — is expected to continue in line with lower overall birthrates in Porter County, according to the report.

In other business the board extended two-year contracts for administrators an additional year. Alaniz and Associate Superintendent Michael Stephens have two-year contracts.

“They play a critical role in improving the learning environment,” board Vice President Wilma Vazquez said.

“We’re really fortunate to have such effective, hardworking, caring administrators.”

Board President Andy Maletta said extending the rolling two-year contracts lets administrators know they aren’t lame ducks.

The board also increased school attorney Ken Elwood’s hourly pay by $25 an hour, which is “still drastically under the market,” Alaniz said.

Elwood’s normal rate for nonmunicipal clients is $375 an hour, but for Portage Township Schools it’s $250 for the next school year.

“Thank you for the hometown discount, as always,” Maletta said.

Alaniz also reported the district hopes to have a follow-up evening for parents after students hear presentations and take tours to learn about careers in health care, manufacturing and the building trades.

That would allow parents to help advise their students on career paths that might not involve a four-year degree.

Apprenticeship programs have positives too, she said.

“It might be the best way to take it to the next level,” Alaniz said.