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City staff reports Moody's rating retained, grant monitoring closed, and proposed internal-control and food/subscription policies
Summary
City staff member Jessica Morgan told commissioners Moody's retained Sweetwater’s AA3 rating and outlined policy changes and grant-monitoring results prompted by a recent comptroller review.
City staff member Jessica Morgan gave the board a monthly fiscal and administration update covering year-end work, litigation, credit ratings, grant monitoring and a set of policy changes recommended after a comptroller review.
Morgan said the state approved the budget the board passed in June, with a single comment asking the city to keep certain line items under budget after an adjusted journal entry moved interest into the capital debt fund. She said staff plan to present full year-to-date revenues and expenditures at the August workshop.
On credit ratings, Morgan said Moody’s has retained…
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