IN Brentwood-Baldwin-Whitehall Winter 2019 | Page 44

Brentwood Maintains Great Credit Rating During
Recent S&P Global Ratings Evaluation
Although Brentwood has recently invested significant quantities
of local funds into infrastructural improvement projects, municipal
leadership has approached the spending of taxpayer dollars with a
conservative, long-range prospective. During its recent evaluation
of our financial operations, credit rating agency Standards & Poor’s
rewarded this cautious approach by assigning an “AA-” rating to
our impending refinancing of some Borough GO bonds. Reviewers
noted that the Borough’s strong budgetary performance, whereby
operational expenditures are consistency less than initial projections.
The firm also cited the community’s substantial fund balance, which
allows the flexible allocations of funds. The report also commends
Brentwood for its use of financial management best practices, such
as monthly budgetary reports, ten-year forecasts, a rolling capital
THE RATING REFLECTS OUR OPINION OF THE FOLLOWING
FACTORS FOR THE BOROUGH [BRENTWOOD], INCLUDING
ITS: STRONG MANAGEMENT, WITH GOOD FINANCIAL
POLICIES AND PRACTICES UNDER OUR FINANCIAL
MANAGEMENT ASSESSMENT (FMA) METHODOLOGY.
improvement plan, and a formal debt management policy. This
positive assessment reflects the hard work of elected officials and
staff to delicately balance the need to direct funds to initiatives
that will immediately improve the Borough while simultaneously
ensuring that the municipality remains fiscally sustainable for
future generations. They also stated an “upside scenario” by stating
“we could raise the rating if, while all other factors hold stable, the
Borough’s economic indicators improve to levels commensurate
with those of higher rated peers.”
REFUSE DISCOUNT
PROGRAM AVAILABLE
Brentwood Borough is pleased to offer its utility customers the
opportunity to save nearly 17% on trash collection and recycling
fees. Residents can receive twelve months of refuse service for the
price of ten by enrolling in our prepayment discount program. To
participate, customers must submit both the full amount listed on the
combined utility bill and the prepayment total by February 5, 2020.
Based upon a projected 2020 trash and recycling charge of $19 per
month, it is estimated that the prepayment total will be equal to $171.
For example, if a resident’s January bill amounts to $70, simply submit
$70 +$171= $241 either through our lockbox P.O. address or via the
electronic payment module hosted on the Borough Website. The refuse
line item will be removed from all remaining 2020 utility invoices. Such
payment will yield a savings of $38. Please note that customers are only
eligible to participate if ALL delinquent sewage and refuse charges are
satisfied by February 5, 2020.
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BRENTWOOD-BALDWIN-WHITEHALL