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Finance director reports clean state audit, stable credit ratings and system modernization needs
Summary
Finance Director Karen Alder (outgoing) reported a clean state audit, maintained AA ratings from Moody’s and S&P, and said the department is capitalizing on high short‑term interest rates while noting technology, recruitment and training as core challenges.
Finance Director Karen Alder told the Budget and Finance Committee the Finance Department received a clean state audit, preserved its credit ratings and is pursuing system upgrades while noting staffing and technology challenges.
Alder said the finance team uses short‑term and multi‑year investments and has taken advantage of higher interest rates to boost investment income; she said revenue collections were ahead of projections…
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