Certificate of Achievement for Excellence in Financial Reporting
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Brownsville for its comprehensive annual financial report for the fiscal year ended September 30, 2010. This was the 34th consecutive year that the City has received this prestigious award.
The Government Finance Officers Association of the United States & Canada
The City of Brownsville received the Award of Financial Reporting Achievement in 2011.
The City received a high quality grade credit rating from Moody's Investors Service and Fitch Ratings and an upper medium grade credit rating from Standard and Poor's on its outstanding general obligation bonds and certificates of obligations. For example, the City received an AA3 rating from Moody's Investors Service, an AA - from Fitch Ratings and an A+ from Standard and Poor's.
These high quality credit ratings and upper medium grade ratings were in large part due to the efforts of the City's sound financial management, the continuous efforts to maintain adequate or strong reserves in its fund balance and by having the Finance Department provide all required financial and statistical information to the three rating agencies.