Cash & Debt Management

RECEIPTS AND DISBURSEMENTS

All town funds flow through the Treasurer's Office including approximately $43 million raised and appropriated in Article 4 at the Annual Town Meeting to operate town government and schools. We also receive and disburse approximately $34 million in Light and Water Department revenues. During FY17, the Treasurer's Office handled over $102 million in total receipts

Earnings on all investments, including Trust funds totaled $1,619,702 in FY17. 

DEBT

The town's debt obligations are as follows (as of 6/30/2014)

Total outstanding permanent debt including Town, Water and Electric 

 $26,879,562

Outstanding temporary borrowing in anticipation of issuing bonds

 $5,292,900,

Authorized and un-issued debt

 $16,638,355

Littleton's Bond Rating  (Standard & Poor latest report)  is:

Long Term Rating 

AAA

     Outlook

Stable

Short Term Rating

SP1+

S&P Upgrades Town of Littleton's bond rating from AA to AAA

2/27/2014- Standard and Poor's has upgraded the Town of Littleton's bond rating from AA to AAA, its highest rating.  S&P defines its AAA rating as "Extremely strong capacity to meet financial commitments. Highest Rating."  The rating reflects S&P's assessment of the following factors for the town:

• Very strong economy with access to the Boston metropolitan statistical area (MSA);
• Very strong budgetary flexibility with 2013 available reserves at 23.5% of general fund expenditures;
• Strong budgetary performance and relatively stable and consistent revenue profile with no appreciable funding interdependence with the state and federal government;
• Very strong liquidity characterized by strong cash levels to cover both debt service and expenditures and demonstrated capital market access;
• Very strong management conditions and strong financial policies and practices that we believe are embedded and sustainable

 

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