Clarkstown’s Rating from Standard & Poor’s Stabilizes at AA+

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Clarkstown Supervisor George Hoehmann this week announced, after suffering two credit downgrades in previous years, the town’s credit rating has stabilized at AA+ according to the latest rating by Standard & Poor’s.
The AA+ rating reflects Standard & Poor’s view that “the town has a newly elected supervisor and its financial management team has made reducing expenditures a priority, by freezing vacant positions, reducing the workforce, and streamlining operations, among other actions”.
“I am proud that Standard and Poor’s recognizes our efforts to turn the tide,” said Supervisor Hoehmann. “We have proven that the era of business as usual in Clarkstown is over and the era of reform has begun.”
Since taking office in January, Supervisor Hoehmann has cut over $1 million in salaries in part by eliminating staff in the Supervisor’s Office and Town Attorney’s Office as well as reducing salaries for the Assessor and Comptroller. In addition, Supervisor Hoehmann initiated reviews of town government to look for efficiencies.
Standard and Poor’s also reported “we do not expect to change our rating within the two-year outlook period.”
“I look forward to continuing the search for more ways to reduce our budget and its impact on the taxpayers of Clarkstown,” concluded Supervisor Hoehmann.

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