I am proud of how the city manages its finances — taxpayer money, your money. Our Moody’s bond rating supports that belief.
The independent rating agency has reaffirmed our bond rating as Aa2, based in part on the city’s “sound financial operations.” You can see the full report, tied to our upcoming bond sale, here.
I’d like to thank all of our departments heads and staff for their work in getting us to this point, and the city council for supporting responsible budgets that help us live within our means.
This rating is really strong by comparison — just two steps below Moody’s highest Aaa rating — and besides being a reflection of our responsibility as financial steward, it also has practical value. It means we can borrow money at lower interest rates, which continues to result in real savings for the city.
Of course, there are risks to this rating going forward, and the reports notes those. Nothing is guaranteed. And improving from an Aa2 is very difficult. Nonetheless, I still see my job as driving, as Moody’s puts it, “sustained growth and expansion of the city’s tax base and economy.” That work is just getting started, and even brighter days are ahead.