Rochester Hills takes the Financial Triple Crown

The City of Rochester Hills is proud to announce that it has received the financial triple crown, receiving AAA bond ratings from all three major credit rating services, an accomplishment that few cities have been able to achieve. AAA credit ratings are the highest that can be earned by an organization. Recently, the City of Rochester Hills received a Aaa bond rating from Moody’s Investors Service to go along with the AAA ratings given to the City by Standard and Poor’s, and the Fitch Rating Agency.

According to Moody’s assessment, “the city’s strong tax base and economic profile; a multi-year trend of net operating surpluses, revenue raising flexibility, solid available fund balance, and ample liquidity bolstered by strong financial management practices are anticipated to contribute to the long-term maintenance of a healthy financial operation.”

“We are very pleased that the rating agencies are recognizing the hard work that the Administration and City Council have put into keeping the city on a strong financial footing” states Keith Sawdon, Director of Finance. “The city’s use of three-year budgeting, coupled with a long range financial forecasting model, an established fund balance reserve policy and strong financial operations, including five years of net operating surpluses have positioned us well to meet the future.”

Rochester Hills was the first city to implement multi-year budgeting in 2010, which has helped reduce the city’s outstanding debt and increased the General Fund Balance significantly over the years.

“These top ratings reflect our commitment to making sure the tax dollars of our residents are used wisely,” states Mayor Bryan K. Barnett. “We plan to continue our financial stability through innovative strategies and fiscal responsibility.”

Established in 1984, the City of Rochester Hills is a prosperous community offering residents and businesses superior services. Voted one of the top places to live by several sources including CNN Money magazine, Rochester Hills is committed to sustaining its position among the nation’s preeminent places to live, work and raise a family. Through the city’s focus on health, education, and technology; the community continues to attract forward-thinking leaders and businesses.