Ronald W. Nesbitt

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Mar 18

Webster's Credit Rating Remains High

Posted on March 18, 2011 at 10:05 AM by PattiAnn Schultz

Once again I am very pleased to report to the residents of Webster that our town’s credit rating remains the highest that can be as issued by Standard and Poor’s.

So what does this rating mean? It means that if the town needed to borrow money, we could do so at a lower rate.

To accomplish this AA rating, especially during these tough economic times, may seem to some as a miracle. Actually, the credit goes to the town’s determination not to spend money it does not have. I would like to thank Kathy Tanea, Director of Finance, and her department for keeping our finance records in order and reports filed in a timely matter.

To the fourteen departments heads who understand that we cannot spend more than we take in and that we must find ways to do more with less all the time, I thank you for your understanding the philosophy the Town Board has established.

To my colleagues on the Town Board, again it is an honor to work with such dedicated men and women who want to provide quality services to Webster residents at the lowest cost possible as shown by not having a tax increase in the past four years. I do not think any other town in Monroe County can match what Webster has accomplished in that category.

An excerpt of this report reads as follows: “The stable outlook reflects Standard and Poor’s expectation that Webster will likely budget to maintain balanced operations and general fund reserves in-line with its informal policy. The stable local economy and manageable debt burden provide additional rating stability. We do not expect the rating will change within the two-year parameter of the stable outlook as we expect the town will maintain its strong financial position.”

This statement in itself speaks volumes to the direction the town is going in the next two years under the current administration especially factoring in that 2011 is an election year.

I have enclosed a copy of the entire Standard and Poor’s credit rating on the town’s web site www.ci.webster.ny.us

If you have questions about the town’s credit rating, or any other questions pertaining to town government, please feel free to contact me during regular business hours at (585)872-7068; or email me anytime at supervisor@ci.webster.ny.us.

Ronald W. Nesbitt
Webster Town Supervisor