Fitch Ratings has reaffirmed Talbot County’s AAA Bond Rating stating that it believes “the County’s stable economy, ample revenue flexibility, and careful expenditure management should support sound reserves over the longer term.”
From the county’s press release,
In their rating assessment, Fitch noted, “Despite a structural imbalance in the general fund from fiscal years 2010 to 2012, the County consistently exceeds its fund balance policy, which calls for unrestricted reserves in the general fund to exceed 15% of general fund spending.”
County Manager Clay Stamp said, “With a conservative approach to budgeting during unprecedented fiscally challenging times, Council leadership, along with a highly capable staff, has well-positioned Talbot County to continue to provide services to the citizens of our community.”
The County Council recognized Angela Lane, the county’s finance director, for her oversight of the finances and applauded her staff for their financial management.