WEST FARGO, N.D. – Good news for the financial picture at the City of West Fargo.
At tonight’s City Commission meeting, City Administrator Dustin Scott will review the latest ratings from Moody’s Ratings.
The company has affirmed the city’s issuer, outstanding general obligation unlimited tax (GOULT) and outstanding special tax ratings at Aa3. They also have affirmed the city’s outstanding annual appropriation rating at A1.
According to a press release included in Monday’s City Commission packet, Moody’s Ratings said, “The Aa3 rating reflects a strong and growing economic base, offset by a narrowing financial position and elevated leverage”. They also noted that “the stable outlook on the city reflects the likelihood that conservative budgeting and proactive management will continue to support healthy reserves and that leverage will not materially change”.
Scott thanked Finance Director Willy Galindo and Senior Accountant Sheila Olson for coordinating the effort with Moody’s Ratings.
