By John Stemlar
Standard & Poor’s (S&P) and Moody’s Investor Services (Moody’s) both recently graded the financial health and management of the City of Brookhaven, each giving Brookhaven its highest rating: S&P rated Brookhaven AAA and Moody’s awarded the City Aaa.
In its report, Moody’s cited Brookhaven’s “large, growing tax base with strong resident income and wealth levels, a healthy financial position and manageable fixed cost.” S&P’s included the following factors in its report:
- Very strong economy, with access to a broad and diverse metropolitan area;
- Very strong management, with “strong” financial policies and practices;
- Very strong budgetary performance, with operating surpluses in the general fund and at the total governmental fund level in fiscal 2017;
- Very strong budgetary flexibility, with an available fund balance in fiscal 2017 of 40% of operating expenditures;
“This allows us to get the biggest bang for the buck, as we avoid high interest payments,” said Mayor John Ernst. “We have a lot of work ahead of us, but we are already underway. This is a testament to the strength of the Brookhaven economy, the responsible stewardship of our finance department, and the collaboration of our resident stakeholders.”
Brookhaven is reportedly one of only five cities in Georgia to receive the coveted “Double Triple-A” credit rating.
John Stemlar is a Principal and the Managing Broker of Sage Real Estate Advisors, a boutique Atlanta residential brokerage. He also promotes Brookhaven’s Lynwood Park neighborhood and the homes for sale in Lynwood Park at www.LynwoodParkHomes.com.