Union County, NJ – Union County received a credit rating of Aaa from Moody’s last week, maintaining its strong financial position looking forward to 2022 and beyond. A rating of Aaa is the highest a county government can achieve.
“The rating reflects the efforts of our strong County Management team and affirms our ability to continue fulfilling the civic mission of County government including public safety, public works, human services and other foundational programs,” said County Commissioner Board Chairman Alexander Mirabella.
“As Chairman of the County Commissioner Fiscal Committee, I am proud of our continued efforts to responsibly manage our County’s budget as we provide for the many important needs of our residents,” said Commissioner Christopher Hudak.
In its report, Moody’s took particular note of the County’s governance, awarding Union County its highest level in this category, a score of G-1.
“The county has built a deep bench of civil servants and outside professionals to implement its policy objectives,” Moody’s observed, adding that “strong county management has aggressively pushed operating efficiency, leading to material financial gains.”
“This, plus a combination of a strong state-wide institutional framework and highly conservative budgeting, has allowed the county not only to strengthen its finances but to do so while providing various forms of assistance to its local governments,” explained Moody’s.
Among the benefits, maintaining an Aaa rating means the County can borrow money at the lowest available interest rates, saving tax dollars.
For information and updates on all Union County services during the COVID-19 outbreak, including free vaccination, free testing, emergency food distribution and other support services, visit ucnj.org/covid19. General information about COVID-19 is available through the New Jersey Department of Health at nj.gov/health.
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