Islip Town Supervisor Angie Carpenter is pleased to announce that Moody’s Analytics, Inc. reaffirmed the Town’s financial Aaa status with a stable outlook for the fourth consecutive time.
The rating agency announced in its Aaa reassignment, “Islip benefits from a large tax base that is poised for future growth. The Town maintains a healthy financial position, characterized by strong reserves and liquidity, and moderate debt and pension burdens. Resident wealth and incomes are above average.”
“I am pleased that together with the cooperation of the Town Board and our Commissioners to tighten budgets as necessary, making certain that each and every taxpayer dollar spent is done with the utmost scrutiny. We have instituted and continued zero-based budgeting to our spending plans, assuring that no projects move forward unless they are deemed truly essential. These are the strategies that enabled us to get the initial upgrade early in 2016, and which was reaffirmed later that year and in subsequent bond agency reviews,” she said.
Moody’s financial ratings are used by banks and others in the financial services industry, to determine the financial health of a given organization.