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Leesburg receives favorable financial review; consultant highlights strong reserves and debt posture
Summary
Davenport & Company delivered an annual financial update to the Leesburg Town Council on Jan. 14, 2025, reporting top credit ratings, strong unassigned fund balance, manageable debt service, and identified stormwater capital needs. The presentation included numbers for outstanding principal and potential refunding opportunities.
Davenport & Company gave Leesburg Town Council an annual financial update on Jan. 14, 2025, saying the town enjoys top credit ratings, a healthy unassigned fund balance and a manageable debt profile while flagging medium-term challenges including stormwater needs and operating pressures.
David Rose of Davenport & Company told council there was "no request tonight of any action, but simply hopefully just some education." He said the town holds the highest possible credit ratings from Standard & Poor's, Moody's and Fitch and that council and staff practices have helped maintain a strong fiscal position.
Rose reviewed key figures from the town9s finance materials. He said the town9s unassigned fund balance (the "rainy day"…
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