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The geographic boundaries of the School District are coterminous with those of Hillsborough County. For Fiscal Year 2015-16, the District operated 244 schools with 209,414 students (full time equivalent ("FTE")) and, the employment of approximately 26,195 permanent employees, of which 15,441 are instructional. Management of the schools within the District is independent of the County and any city governments. The Board is authorized by State law to levy property taxes for school district operations, capital improvements and debt service. Property taxes are assessed by the Hillsborough County Property Appraiser. The Hillsborough County Tax Collector collects taxes for the Board, but exercises no control over expenditures by the Board. The District and its governing board (School Board) were created pursuant to Section 4, Article IX of the Constitution of the State of Florida and it is an independent taxing and reporting entity managed, controlled, operated, administered and supervised by District school officials in accordance with Chapter 1001, Florida Statutes. The School Board consists of seven elected officials. The appointed Superintendent serves as chief executive officer of the school system and is responsible for the administration and management of district schools. The District and Superintendent are required by Section 1010.01, Florida Statutes to maintain financial records and accounts as prescribed by law and rules of the State Board of Education.
Standard & Poor's Ratings Services said it raised to A-minus from BBB-plus its long-term and underlying ratings on Hillsborough County School District, Fla.'s sales tax revenue bonds. The outlook is stable.