“No Debt and Strong Fiscal Controls Lead To Triple A Rating”
Moody’s Ratings, the international financial analysis and bond rating company, has awarded Hunterdon County’s government with its coveted highest rating, AAA, citing the County’s strong financial management, no debt, and stable surplus.
County Commissioner Board Director Jeff Kuhl reacted to Moody’s announcement, stating, “While the Commissioners and our staff work hard to make the county’s finances extremely efficient, it should give our residents confidence to have a respected international outside agency award its highest classification, ‘Aaa’, to the county’s fiscal efforts.”
Commissioner John E. Lanza, who has served on the County Board since 2014, added, “Ensuring a sound fiscal environment has been a priority for me throughout my time on the Board.
Those efforts have resulted in the County’s fiscal controls and records being certified without fault by the independent auditor for nine straight years, a tax rate cut in 2024, and no debt. Now, to have Moody’s recognize the Board’s financial achievements with a Triple A rating is the icing on the cake.”
Moody’s ratings announcement for the County stated, ‘Governance is a driver of the rating action. The management team has a proved history of maintaining balanced operations and strong reserves.
The county funds its annual capital through its Current Fund budget along with its open space fund. Its future capital plans are modest. Its pension and OPEB liabilities are manageable.
The county had no outstanding debt at the end of fiscal 2023. Current projections show at least stable fund balance if not higher.’
Kuhl concluded, “The County’s goal now is to continue sound fiscal management and principles for the taxpayers which should ensure a continuance of the County’s Triple A rating.”
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