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Standard & Poor’s issued the bond rating as the county prepares to issue new bonds to pay for various capital improvement projects, including, road and bridge improvements, building renovations, and replacement of vehicles and highway equipment.
“Our conservative fiscal management and continued focus on smaller, smarter, more effective government has again been endorsed by Standard & Poor’s with a reaffirmed AA+ bond rating,” said Dutchess County Executive Marcus Molinaro. “This strong bond rating keeps Dutchess County among the highest-rated county governments in the state.” There is only one county statewide with a higher S&P bond rating, according to the release.
The strong AA+ bond rating reaffirmation follows the recently proposed 2016 County Budget, which includes a property tax levy reduction of more than $1 million, as well as the first property tax rate reduction in eight years, with no reduction to services or programs, the release said.
“The reaffirmation of the enviable AA+ bond rating demonstrates Dutchess County Government’s strong financial foundation,” said Dale Borchert, chair of the Legislature’s Budget, Finance and Personnel Committee. “This rating report reaffirms our conservative approach to fiscal management as we continue to serve the needs of our community.”
See the full bulletin here.
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