Once again both Moody’s and S&P Global Ratings, the private agencies that rate bonds issued by governmental authorities, have given Alexandria highest AAA ratings for their forthcoming 2018 bond issues citing the City’s strong tax base, good budgeting and generally sound fiscal policies. The AAA ratings give Alexandria a lower interest rate which saves the City and its taxpayers many thousands of dollars over the life of the bonds.

The fiscal environment of our City has been very challenging over the past ten years. Moreover, the City has had to spend significant sums to repair and maintain its infrastructure, accommodate growing enrollment in the public schools and deal with major capital projects such as separating the combined storm and sanitary sewer system and constructing the new Potomac Yard Metro Station.

Over this decade our City Councils have set fiscal priorities that are in tune with the long- term needs. Our City Managers and their budget staffs have done a remarkable job dealing with the many issues and keeping spending under control. 

We congratulate our City government on this accomplishment and look forward to the strong fiscal administration continuing into the future.