Reading CFO warns reserves are shrinking; AAA bond rating at risk without change
CFO Sharon Angstrom told residents the town’s free cash and reserves have fallen and that continued use of one-time funds to fill recurring gaps could jeopardize Reading’s AAA bond rating; she presented free-cash, stabilization and projected reserve numbers.
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CFO Sharon Angstrom told attendees at the Aug. 18 forum that the town’s reserves have declined after years of using free cash to close operating gaps.
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