How Responsible is West Hartford's Fiscal Management?
"Moody's believes that the town's consistently stable financial position will be maintained largely due to the policies followed by a seasoned management team... [The undesignated General Fund] increase reflects the town's consistently conservative budget practices -- specifically in regards to investment earnings, property tax collection assumptions, and anticipated state aid grants -- coupled with strict spending controls."

Click here for Moody's Rating Report, January 29, 2008

"Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to West Hartford...The rating reflects:

• An affluent and stable residential tax base located within the Hartford metropolitan area,
• Well-above-average wealth levels and historically low unemployment,
• Historically sound financial performance and conservative long-range planning, and
• A low debt burden with manageable future capital needs."

Click here for Standard & Poor's "RatingsDirect" Report, January 29, 2008

"Long-term financial planning is used to manage the liabilities associated with post-employment pension and health care benefits. The Town established a reserve fund in 1986 for retiree health care benefits [long before required to by GASB pronouncements] and measures its liabilities every two years. Actuarially determined contributions are made to the Pension Fund annually...Long-term financial planning demonstrates that asset management is only part of the equation in successfully funding post retirement benefits; the other part is minimizing the plan's liabilities. As a result, the Town negotiated significant changes in the retirement benefits for new employees, which are expected to begin to influence liabilities for these benefits as the existing workforce retires and new employees are hired to replace them."

From the Town of West Hartford - Comprehensive Annual Financial Report for the Fiscal Year July 1, 2006 - June 30, 2007

"The Town has met or exceeded a current year property tax collection rate of 99% for the past 7 years. Delinquent tax collections continue to remain strong." Town of West Hartford -- Comprehensive Annual Financial Report for the Fiscal Year July 1, 2006-June 30, 2007

• Despite a softening economy, the Town's analysis of its fiscal practices has yielded a forecasted collection rate of 99% for Fiscal Year 2008-2009.

• Click here for the originally proposed Town Budget
• Click here for the changes from the Town Manager's proposed budget to the approved budget