Report: Greensboro Metropolis’s funds rank 12th healthiest in America | Native information
Here’s the thing: they’re pretty tough evaluators over at Truth in Accounting.
No city received an A, and only the 11 healthiest cities received a B.
The truth of the accounting position is that any debt is too high. It combines the urban debt burden with “lower quality of life, poor highway systems and a slow recovery in home prices”.
That doesn’t take into account the low interest rates – 2 percent in some cases – cities like Greensboro can get when they borrow money.
The people over in the town hall didn’t take the C-Class too kindly. They noted in a statement this week that Greensboro has an AAA bond rating from Moody’s, Standard & Poor’s and Fitch, the highest rating available.
And as for the “hidden debt” of pensions and health care, city officials note that North Carolina is asking statewide communities to put money aside – which Greensboro is doing.
Truth in Accounting also did not correctly compile the city’s assets and debts, according to the statement.
Greensboro would have been ranked higher if Truth in Accounting had looked at the audited 2016 comprehensive annual financial report.
“The city administration has a very good track record in planning and financing its debts and other obligations,” the statement said.