Archived Story

IOW has financial house in order

Published 1:00pm Saturday, July 13, 2013

It was good to see that Isle of Wight County has its credit in order.

In Friday’s newspaper, The Tidewater News reported the county government recently earned a third upgrade to its credit rating by Standard & Poor’s. The county was raised from AA- to AA, the first upgrade in 5 years.

Officials had to travel to New York City to present the county’s case.

That was time and money well spent.

This rating will help when it comes to refinancing bonds, which should provide significant savings to the taxpayers of Isle of Wight County.

The upgrade also showcases that the government has its finances in order, something that many counties, and individuals around the country, are struggling with.

It is also good to see that county officials are working hard when it comes to making sure that the taxpayers’ money is well represented.

For the second year in a row, Isle of Wight County also received the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada for its comprehensive annual financial report. The credential is the highest form of recognition in governmental accounting and reporting.

We think this is a great example to the community to showcase good fiscal policies and to also save the taxpayers some money.

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