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AdministratorÓs Report <br /> <br /> <br />May 24, 2023 <br />____________________________________________________________________________________________________ <br /> <br />FINANCE <br />Credit Rating Upgrade <br />Standard and PoorÓs recently contacted the Finance <br />Department for updated information regarding our <br />financial condition. Finance Director Bruce DeJong <br />responded with the good news regarding our building <br />activity and financial results. This prompted a review <br />which has upgraded our bond rating from AA to <br />AA+. Our new rating is only one step below AAA. <br />The rating increase is based on S&PÓs evaluation of the following factors: <br />¤ Centerville, about 15 miles north of St. Paul in Anoka County, is primarily residential with 30 new <br />homes built over the past several years and 26 townhomes and commercial/retail development in the <br />planning stage; <br />¤ Very strong reserves compared with expenditures with no planned drawdowns and a history of <br />operational financial balance; <br />¤ Strong debt profile with no medium-term debt plans; and <br />¤ Good financial policies and practices under our financial management assessment methodology, <br />highlighted by conservative budgeting practices, budget-to-actual reporting to the council monthly, fund <br />balance policy, and a long-term capital and financial plan that is updated every year; and a strong <br />institutional framework score. <br /> <br />The Mayor and City Council are to be congratulated for their years of prudent financial management and <br />community development strategies that have come to fruition and have been recognized by our bond rating <br />agency. <br /> <br />VOLUNTEER OPPORTUNITIES <br />Open Board Positions <br />Please call city hall at 651-429-3232 with any questions you may have regarding the <br />following openings. If you are interested in applying, scan the QR Code to the right or <br />visit the CityÓs website for an application. <br /> Parks & Recreation Committee Î 2 Open Seats <br />st <br />o 1 Wednesday of the month at 6:30 p.m.) <br /> Planning & Zoning Commission Î 2 Open Seats <br />o (1st Tuesday of the month at 6:30 p.m.) <br /> <br />ADMINISTRATION <br />Meeting and City Hall Schedule <br /> May 24, 2023, 6:30 p.m. Î City Council <br /> June 6, 2023, 6:30 p.m. Î Planning & Zoning <br /> June 7, 2023, 6:30 p.m. Î Parks & Recreation <br /> June 21, 2023, 6:30 p.m. Î Economic Development Authority <br /> <br />City HallÓs front door got a bit of a facelift, donning our logo, hours <br />of operation and phone number (see photo). <br /> <br /> <br />