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Finance director announces Moody's upgrade to AAA as town reports strong revenue and new dashboard
Summary
Finance Director Alisa Massie told the council that third-quarter revenues are tracking well and that Moody's has upgraded Indian Trail to a AAA rating; the upgrade signals stronger borrowing terms and reflects stable finances, department fiscal management, and fund balances.
Alisa Massie, the town’s finance director, told the Indian Trail Town Council that third-quarter revenues were running roughly 90% of budget and ad valorem collections were at about 99.6%, and announced that Moody’s Investors Service just upgraded the town’s rating to AAA. "We were upgraded to a AAA rating for Moody's," Massie said, adding that Moody’s evaluation covered economic drivers, tax collections, permits, outstanding debt and capital plans.
The rating change means the town is positioned for lower borrowing costs when it issues bonds or uses installment financing, Massie said, and she praised multiple departments for the data and presentations that supported the review. Mayor David Conn and several council members thanked staff and singled out Alicia Gaddy, Hayden and Brandy for work on the submission. "Without the hard work and dedication of everyone, it would not have been possible," Massie said.
Massie also previewed a new monthly financial dashboard intended to show cash position, cash flows and revenue/expenditure comparisons on a live basis; staff said March will appear in the next consent agenda once reconciliations are complete. She reviewed revenue drivers including higher-than-budgeted ad valorem and investment earnings, noted some timing issues for beer/wine distributions and video programming revenues tied to streaming trends, and summarized department-level expenditure timing: communications and IT tracks higher early due to annual software renewals, law enforcement payments occur quarterly, and encumbrances affect available balances.
Council members pressed for follow-up materials; Massie said staff will provide a copy of Moody’s report when it is released and asked council to flag any items they want reflected in the dashboard. The manager's recommended budget will be released in the coming meeting packet; Massie and the manager emphasized that the proposed FY27 budget is being prepared to avoid using fund balance unless the council directs otherwise.
What happens next: the Moody's report will be distributed to council when available, and staff will include the financial dashboard in future consent agendas. Council members requested additional line-item savings summaries and one-on-one briefings before the manager’s formal recommended budget presentation.
