Archives

vanessa-newVanessa Remmers covers Stafford County government and schools for fredericksburg.com and The Free Lance-Star.

Check here for the latest reports on news from Stafford County. You can email her at vremmers@freelancestar.com.

Share
RSS feed of this blog

Stafford Gets Major Credit For Credit

JoAnne Carter from the firm Public Financial Management was effusive in her praise for Stafford County’s financial management. Some of the goals the supervisors set a year ago have already been met, and maintaining those goals will only make the county look better int he eyes of the bond rating agencies.

“I was truly impressed” Carter said after her annual review. “It has put the county on very firm footing in terms of enhancing your bond rating.”

Carter said the ratings could improve soon because of the board’s actions.

So what’s next? I’m not sure, but if the county wants to borrow money, they seem to be in a pretty good place.

Permalink: http://news.fredericksburg.com/staffordnews/2011/03/15/stafford-gets-major-credit-for-credit/

  • LarryG

    Is. Ms. Carter an independent auditor or does she have a business relationship with the county?

    Is her work product available online?

    What specific things does the county have to do – to improve their footing ?

    I’m sometimes leery of such “awards” unless it is clear that it is the result of an independent 3rd party who has no other connection to the entity rated

  • http://MAVRICKinc7@msn.com Martin (Marty) Work

    DITTO!

  • Dean Fetterolf

    But at what cost to services and schools?

    PFM is the county’s financial advisor. Hardly an independant observer. They get paid to say that kind of stuff.

  • Dean Fetterolf

    What really counts are the independant financial audits conducted every year called CAFRs. In each of the last 2 years the county was found to have a “material weakness”, a significant audit finding. Last audit for losing $6.4M on the county books and blaming it on the schools and the year prior for the 4th year in a row for repeatedly failing to reconcile accounts in a timely mannor (i.e. balancing the books). By the way the school audits over the same period were perfect..