FISHKILL – Moody’s Investor Service has upgraded the Town of Fishkill’s bond rating to A3 from Ba1, reflecting the town’s “continued improvement and stability in its financial position, a moderately sized tax base with above average wealth levels and manageable debt and pension liabilities.”
The rating company gave the town a positive outlook with the expectation that “the financial position will continue to stabilize over the near term.” The report noted that “Given the rapid recovery from a large deficit position only five years ago, positive rating pressure will increase with a long trend of balanced operations and maintenance or reserve levels.”
Town Supervisor Robert LaColla said local officials have worked hard to turn a negative financial picture around.
“I think the work that Moody’s does help maintain the trust between the town and the taxpaying public,” LaColla said. “The staff here at town hall has been working hard to find efficiencies and the town board has pretty much ignored politics and just made those tough decisions that lead to good results.”.
Moody’s said Fishkill’s financial position is expected to remain stable over the near term “due to conservative budget practices” that included eliminating a deficit fund balance in fiscal 2014.
Woman behind fake veteran story arrested by feds
May 2, 2024
