WESTFIELD TWP. – With five tax reductions in five years, new buildings constructed without tax increases, free meals and school supplies for all students, plus consistently high marks on Ohio’s School Report Card, the community knows Cloverleaf Local Schools is a good investment for families and taxpayers.

Moody’s Ratings – which provides financial research to investors on bonds issued by commercial enterprises and government entities like school districts – agrees.

The New York-based agency has upgraded Cloverleaf’s bond rating from Aa3 to Aa2 – one of Moody’s highest-possible rankings – identifying the district as a top-quality, low-risk investment. Similar to a personal credit score, the increased bond rating reflects confidence in Cloverleaf’s overall strength, stability, management practices and ability to meet financial commitments.

Bonds are effectively loans from investors used by public entities to finance large projects. Cloverleaf’s high rating means the district is a smart bet, should the board of education seek to issue bonds or refinance existing bonds at lower interest rates.

Cloverleaf currently is paying off construction bonds for its elementary school (opened in 2012) utilizing funds generated by Medina County’s sales tax for schools, as well as bonds for construction of a combined high school and middle school (opened in 2024), utilizing tax dollars generated by the NEXUS natural gas pipeline. 

Even though the elementary, middle and high schools were constructed at no cost to Cloverleaf taxpayers, being able to finance such projects at lower rates potentially frees up county sales tax and pipeline tax revenue for other uses in the district, saving local taxpayers money.

“It simply gives the board of education greater financial flexibility for future projects and initiatives,” said Cloverleaf Treasurer James Hudson.

It also strengthens Cloverleaf’s promise to the community – first made in 2014 and subsequently extended – not to seek new funds from district taxpayers until 2032 or beyond, marking at least 18 years without asking voters for a tax increase.

“A rating upgrade is especially significant at a time when many schools are grappling with rising costs, financial uncertainty and challenges in securing community support,” Hudson added. “Increasing our rating under these conditions is an achievement – one that would not be possible without the support of our constituents, board of education and staff. It’s another strong indication Cloverleaf is continuing to move in a positive direction.”