Chatham Township Nails AAA Rating For Finances

CHATHAM, NJ – If you ask the auditors at Moody's Investors Services, the Chatham Township governing body does good work in handling taxpayer finances, as they've received Aaa rating with a stable outlook.

“This is great news for Chatham Township and its residents and highlights the hard work and fiscal discipline of the Township Committee, our Administrator Tom Ciccarone, and CFO Debra King," Chatham Township Mayor Curt Ritter said. "Our Aaa rating is significantly above the U.S. cities median and in issuing its report, Moody’s indicated Chatham Township maintains a very healthy financial position, a very strong wealth and income profile, and a sizable tax base. Chatham Township residents should take pride in knowing that their municipal finances are being managed so well.”

Moody’s cited Chatham Township’s extremely strong credit position for its rating. The report can be viewed here.

Moody’s also indicated in its report, “The Township has a robust financial position. The cash balance as a percent of operating revenues (115 percent) is far stronger than the U.S. median, and saw an impressive increase between 2013 and 2017. Furthermore, the fund balance as a percent of operating revenues (41.7 percent) is slightly above other Moody's-rated cities nationwide.”

(Photo courtesy of Shutterstock)

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