Thursday, June 17, 2010

San Antonio is Solid Gold

The city of San Antonio just received the highest bond rating possible.  So why is this a big deal?  I means that the city's finances are so solid, with cash reserves of 9% of the annual budget, that it is in no danger of defaulting on loans like many other cities.  San Antonio is also listed as one of Forbes top ten most recession proof cities.

Kudos apparently go to City Manager Sheryl Sculley who helped the city raise cash reserves from 3% to 9% in five years.  The only other city with a triple triple bond rating is Phoenix, the city SA wooed Sculley away from.
When SA was first courting Sculley they offered her a salary so large many citizens were red with outrage, I can't say I was too keen on the idea.  But she has proved her worth.  Congratulations Ms. Sculley on a job well done.

No comments:

Post a Comment