Town Of Ramapo Hits A+ Financial Rating

by Monsey.info

A special announcement was made by Ramapo Town Supervisor Michael Specht regarding the Town’s A+ Rating received from S&P.

The great news comes as the New York State Comptroller removed the Town of Ramapofrom from the list of municipalities susceptible to financial stress.

The report stated that “After a finding of fraud by the SEC in 2017, Ramapo was faced with remaking its financial team and processes. In addition to rebuilding finances, the [Town’s] new management team worked to restore confidence in Ramapo’s overall reporting and transparency of financial information.”

Due to the great work by the Town S&P upgraded the outlook of the Town to an A+ rating, citing its strong economy and operational surplus.

Other strong findings included the full elimination of the Town’s deficit and an exceptionally strong and liquid economy.