Montrose County’s Bond Rating Raised to an “A”

Apr 4th @ 2:00 pm in News by Scott Staley

montrose county Logo

MONTROSE COUNTY – Montrose County’s Bond Rating has been changed from the rating of “A-“ to “A” last month.  The raised rating reflects Standard & Poor’s (a leader of financial market intelligence) view of the County’s ongoing strong financial operations, maintenance of a very strong unreserved fund balance, good financial management practices, historical operations and low debt profile.

“Montrose County’s fiscally proactive and responsible actions as well as our continued improvement in our long range financial planning strategies have helped us to achieve this excellent rating,” said Jesse Smith, County Manager.

The county’s general fund performance has been strong as well according to Standard & Poor’s. Montrose County has been adding to its fund balance in order to mitigate the effect of the expiration of the county sales and use tax in July of 2006. The County’s overall debt burden in fiscal 2009 was very low at less than $1,000 per capita, and low at less than 1% of market value. The county has also frozen all hiring, salary and cost-of-living adjustments.  These cost cutting measures have proven to be successful.