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Written by Jeff Manville Southbury First Selectman
I am happy to report that the annual Town and School budgets passed at the May 5th referendum with overwhelming support. We were able to create a budget that is fiscally responsible without cutting any services to citizens. After the budgets passed, the Board of Finance held a special meeting to set the mill rate. The Board voted to keep the rate at 29.3 mills resulting in no tax increases for next fiscal year. Referendum results can be found here.    
CREDIT RATING
Last week, we got the very exciting news that our credit rating has been upgraded by Moody’s Investors Service to Aa1 from Aa2. This upgrade to our bond rating reflects the fiscal health of our town and is well above the median rating of Aa3 for US cities. The Town will now be able to borrow at lower interest rates which will provide savings to taxpayers.  For more information on the bond rating upgrade, click here.      ....

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