In these difficult economic times, Peachtree City has received an AA-1 rating from Moody’s and an AAA rating from Standard and Poor’s, quite an accomplishment. Out of all the cities in Georgia, only three have an AAA rating, Roswell, Alpharetta and Peachtree City.
Our city uses a multi-year financial model. We don’t just plan for today; rather we pass a budget for this year and plan for the next four years as well.
We have relatively low debt levels. In the city council meeting earlier this month, Council member Imker pointed out that this year the city paid off one bond early and refinanced two more to save the taxpayers about $250,000. Mr. Imker also said that while we have 14 outstanding debt obligations, currently nine of them will be paid off over the next five years.
Another reason for our excellent rating is that our city now demonstrates strong financial management.
Peachtree City has morphed from lurching along one year at a time while our elected leaders kept their eye toward their next election, to finally working on the budget with an eye toward our city’s future. Since early 2010, this council has shown the courage to make the necessary decisions no matter how politically unpopular they may have been.
I wish to thank Eric Imker for his hard work on our city budget. I, for one am grateful for his continued effort and will support Eric Imker in this upcoming election.
Donna M. Groover
Peachtree City, Ga.
