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(Draft January 2002) Key Financial Strategies <br /> For Elk River <br /> <br />the rating agency's view that the rating may be upgraded in the foreseeable <br />future. The rating was last upgraded in 1999. <br /> <br />Moody's cites the following factors in its analysis of Elk River: <br /> <br /> · Continued growth ~ Expanding tax base, growth in both housing and <br /> commercial~industr~al, support of commuter rail. <br /> <br /> · Local economics ~ Wealth and property values above average, low <br /> unemployment. <br /> <br /> · Improved City financial position ~ Favorable reserves in General Fund, <br /> conservative budgeting practices, controlling increases in tax rates. <br /> <br /> High debt burden from growth * City and overall debt above median. <br /> <br /> · Good debt management ~ Rapid payoff, largely self~supporting. <br /> <br /> · Overlapping debt is important ~ School District downgraded in 2000 due <br /> to a combination of District finances and debt burden. <br /> <br />Page <br /> 38 . <br /> <br /> <br />