INFORMED & ENGAGED
' s d i p a R edar CStrong Financial Position
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n the same way a credit score can impact your financial life, the City’s bond rating is a strong indicator of Cedar Rapids’ overall financial position. An impressive bond rating can directly impact our residents’ lives, too. It can mean better terms for bonds we issue to pay for long-term investments in our streets, flood control system, technology, parks, public safety infrastructure, and more. Strong bond ratings can even help you get more out of what you pay on your utility bill. A strong bond rating is one of the ways Cedar Rapids keeps its water and sewer rates competitive across the region, which in turn helps attract new businesses to our community.
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For years, Moody’s Investors Service has assigned an Aa1 rating to the City of Cedar Rapids’ General Obligation Bonds — its second-highest rating — including most recently in April 2022. Moody’s conducts a rigorous analysis of the finances and general management of operations for cities across the United States. These ratings are used as a measure of confidence in the city governance upon each issuance of bonds. “Our Aa1 rating demonstrates very strong creditworthiness relative to other U.S. municipal entities,” said Casey Drew, Finance Director for the City. “Moody’s considers the overall economic health of the city, including major employers; local residential, commercial, and industrial construction; unemployment; and other economic indexes in their rating methodology.” What’s more, in 2022, WalletHub named Cedar Rapids the 28th best-run city in America, considering factors such as financial stability, quality of city services per dollar spent, and more.
OUR CR
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NOVEMBER 2022
The City’s budget and financial management are two of the most important products your City government is responsible for each year. City staff take their fiduciary duty very seriously and work hard to control the costs of doing business. We are proud to leverage your dollars responsibly while providing high-quality programs and services in return.
