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Fort Lauderdale cites AAA rating, keeps 25% fund balance target as $200M parks bond proceeds proceed
Summary
City staff told the Budget Advisory Board that Fort Lauderdale recently received a AAA rating from major credit agencies, is holding a 25% fund-balance target, and plans to time issuance of the final $60 million tranche of a $200 million parks bond for fiscal 2026 depending on spending.
Fort Lauderdale officials told the Budget Advisory Board that the city has secured a AAA bond rating from national rating agencies and is maintaining a fund-balance policy that targets roughly 25% of operating expenditures as a prudent reserve. The board heard that the city will use amounts above that target, together with PFAS-related funding, to accelerate capital projects already planned in the bond program.
The report to the Budget Advisory Board explained why the AAA rating matters: higher ratings reduce interest costs and reflect “planning for the future,” including diversified revenues and financial policies staff said helped persuade S&P and Moody’s. Staff also…
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