Financial Policies

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The purpose of this section is to present the policies the City follows in managing its financial, operational, and budgetary affairs. These are general policy statements representing long-standing principles, traditions, and practices that have guided the City in maintaining its financial stability.

City Retains Highest Bond Credit Rating

In August 2019, Standard & Poor’s (S & P) reaffirmed the City’s AAA bond rating for general obligation bonds and a rating of AA+ for special obligation bonds. Staff participated in a credit rating call with S & P in preparation for a new debt issuance. S & P has issued a rating report describing the aspects of the City which helped warrant the continued high rating such as the City’s strong economy, financial management and policies, budgetary performance and fund balances. You can read the full report here

 

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