Post date: Nov 13, 2019 4:22:6 PM
Will discuss some thoughts about maintaining current bond rating and positioning us for possible future increase in bond rating. This includes actual process of getting re-rated as well as what we learned in the last rating effort in 2019.
The attachments below include the annual comment report as well as the opinion offered last year.
Notable from the opinion are the 2 factors that were identified as how rating might be upgraded:
1. Continued growth of fund balance and cash levels
2. Reduced budgeted appropriation of free cash.
To that end, Janet has drafted some supporting policies with my input on providing clarity around some of our fund balances. In addition, I have outlined a Management Strategy for the use of free cash to frame the recommendations that my budget proposal will use relative to allocations of free cash.