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Budgetary Flexibility <br /> STANDARD&POOR'S Hot Topics Credit Tools Infagraphics Understanding Ratings <br /> RATINGS SERVICES I <br /> S&P's U.S.Local Governments Ratings Criteria► <br /> US LOCAL GOVERNMENTS Create Scenario Scenario Comparison <br /> Elk River Overrides <br /> Indicative Baling' , . .....................ti Illustrative Issuer <br /> • - Credit Rating Range' <br /> Request an S&P Rating <br /> Adjust the Score:Budgetary Flexibility + Positive Impact O Negative Impact l?/ <br /> Available Fund Balance As A%Of Expenditures + If projections for the current year and the <br /> following year suggest a better initial score the <br /> score improves by one point. <br /> i >15 8to15 4to8 1 to4 51 <br /> .. <br /> No Yea <br /> Secure <br /> + Ability to avoid financial imbalances with <br /> demonstrated capacity and willingness to cut <br /> operational spending Iby more than 2°/a}, <br /> resulting from a flexible cost structure,flexible <br /> legislation,and/or widespread political support. <br /> No * Yes <br /> SCORE AFTER ADJUSTMENT <br /> 'These are not Standard&Poor's Ratings Services credit ratings.Read our full id sclairner <br /> Public Sector Advisors 12 Springsted <br />