What is the City’s Bond Rating?

The City earned an AA rating on its general obligation bonds and an AA rating on its refunding water bonds from Standard & Poor’s. Per the agency’s rating definitions, an obligation rated 'AA' differs from the highest-rated obligations only to a small degree. The obligor's capacity to meet its financial commitment on the obligation is very strong. An ‘A’ rating has a strong capacity to meet financial commitments, but is somewhat susceptible to adverse economic conditions and changes in circumstances. The ratings rank from a ‘D’ to ‘AAA’, with ‘AAA’ being the highest rating. The plus (+) sign is used to show relative standing within the major rating category.

Show All Answers

1. What is the General Fund?
2. What are the primary General Fund revenue sources?
3. What is the 4th Cent Sales & Use Tax and how is it allocated?
4. What is the 5th Cent Sales & Use Tax (local option) and how is it allocated?
5. We have a 6th cent specific purpose tax (1% SPT local option) in Albany County. Why don’t I see it in General Fund revenue sources? How is this tax being managed?
6. How much debt can the City carry?
7. What are the current types of general fund debt and the terms associated with the debt?
8. What is an Enterprise Fund?
9. What types of enterprise fund debt are held by the City and what are the terms associated with that debt?
10. What determines how much the City can spend?
11. What is the City’s Bond Rating?
12. What is Depreciation? How does the City manage it?
13. What are Fund Balance and Net Position?
14. What do the different components of fund balance mean?
15. What is a Modified Balance Sheet?
16. What are the Days of Operation Reserves?
17. What are the Recreation Center’s primary revenue sources?
18. What is the percent of Cost Recovery for the Recreation Center?
19. What is the Enterprise Fund Shared Services Transfer?
20. How does the City plan its budget for Enterprise Funds?
21. Are the revenues in the Enterprise fund only user fees?
22. How does the Financial Outlook Report differ from the Comprehensive Annual Financial Report (CAFR)?