Erie's Bond Rating Improves

Dear Erie Neighbors,
 
Good news! The Colorado general obligation (GO) bond rating has improved.

Here is what the report said:
Feb. 27, 2013--Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) on Erie, Colo.'s general obligation bonds to 'AA+' from 'AA', with a stable outlook.

"The upgrade reflects the town's consistently very strong fund balances along with very strong wealth levels for this area," said Standard & Poor's credit analyst Michael Stock.

The ratings reflect our assessment of the town's:
    -- Good management practices and policies
    -- Very strong incomes
    -- Somewhat concentrated sales tax base

The report goes on to say that the strong general fund balances is needed to help the town get through any potential tough economic times over the next two years.  Thanks to a rainy day fund established several years ago, the general fund balances looked good to the evaluators.  The current BOT must be incredibly conscientious about spending these funds. 

The strong wealth levels are thanks to the high median household income.  Way to go Erie residents!  

You can read more facts about The Town of Erie 2013 Community Profile on the town website at www.erieco.gov

Take care,
Janice