Bond rating agencies Standard & Poor’s (S&P) and Fitch recently reaffirmed the town of Flower Mound’s AAA bond rating for its General Obligation Refunding bonds and Certificates of Obligation.
AAA is the highest bond rating achievable and helps the town continue saving millions of taxpayer dollars through low interest rates, the town said in a news release Tuesday.
“This is the 11th consecutive year that the town has received this AAA rating, and it’s a direct reflection of the strong leadership of our finance team and Town Manager James Childers,” Mayor Cheryl Moore said. “The town has strong financial policies and practices in place, thanks to past and present Town Councils and administrations. We are so proud to be one of only a few Texas communities to consistently achieve these ratings.”
S&P stated that the AAA rating reflects the town’s:
- Conservative budget assumptions, consistent budget monitoring, use of long-term financial projections, and formal capital improvement, investment, debt management, and fund balance policies
- Consistent tax base expansion from local businesses, commercial spaces, hotels, and more
- Trend of positive operating performance and maintenance of very strong reserves and liquidity, supported by stable revenue growth and comprehensive financial policies and practices
- Manageable annual pension and other postemployment benefit expenses, as well as the well-funded status of the town’s pension plan
To view the entire S&P report, visit https://bit.ly/3RCJ976. To view the entire Fitch report, visit https://bit.ly/4cem4A2.
.png)
.jpg)
