Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Local Finance Credit topic
No spam. Unsubscribe anytime.
Mayor: Blount County earns AAA credit rating from Fitch after years of debt reduction
Summary
The Blount County mayor announced at the July workshop that Fitch assigned the county a top credit rating (AAA), citing reduced debt, a stable fund balance and conservative fiscal management; the mayor credited county staff and recent investments in schools and employees.
Blount County’s mayor told commissioners at a July workshop that Fitch assigned the county a top credit rating, which the mayor characterized as an “AAA” rating, and credited years of fiscal management and debt reduction.
The mayor said county leaders had reduced outstanding debt from “almost a quarter of a billion dollars” to about $80 million and maintained a stable fund balance and debt service position. He credited the finance department, department heads, elected officials and county employees for the result and said the county had not raised taxes to achieve these outcomes. “We have not borrowed any money,” the mayor said, and added that the county had funded capital projects and pay raises while maintaining low taxes.
The mayor highlighted investments the county has made during his tenure, including about $85 million in school system projects, increases in pay for police officers and county employees, and other capital improvements. He framed the Fitch rating as validation of conservative budgeting: “We do it the right way. We’re very conservative, and we have good people in place,” he said.
The announcement did not include the full Fitch report in the workshop record; the mayor said the rating places Blount County among a small number of counties in the state with that top score. The mayor called the rating an accomplishment for county staff and elected officials and suggested it may help explain why people and businesses move to the county.
No immediate policy or budget actions were taken at the workshop in response to the rating. County staff and the mayor indicated they would continue regular financial oversight and present formal documentation to the commission as appropriate.
