Financial forecast for city of Atascadero on the rise

ATASCADERO, Calif. – The city of Atascadero shared some encouraging financial news on multiple fronts this week.

The city's long-term credit rating graded out as an A+ from Standard and Poor's Global Ratings (S&P). The city also received an excellence award in budgeting from the California Society of Municipal Finance Officers (CSMFO).

The S&P report collects financial data across the local economy, debt limitations and assessed value growth (AV) among other factors.

With a stable rating on this year's S&P report, the city will be able to cover bond payments and continue a march toward financial growth.

Two bond issues will be retired by the city in the coming months allowing taxpayers to save money. The lower cost of borrowing also indicates the city's continued financial improvement.

On the budgeting front, the CSMFO awarded the city's government through their continued pursuit of excellence in their financial endeavors.

“The CSMFO Excellence Award in Budgeting is not new to our City’s Administrative Services Department, as they continue to be recognized for outstanding financial reports on a consistent basis,” said Mayor Heather Moreno. “We are very proud of their countless hours and continued efforts to excel in this area and the City’s ongoing commitment to responsible stewardship and transparency of public funds!"

Both long-term and short-term financial goals were considered for the city's budget and the CSMFO recognized statewide standards met by Atascasdero to award them.

For more information on the CSMFO you can visit their website and for more information about the city's S&P report, click here.