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PART FOUR 4
The City and City’s Waterworks Department maintain strong credit ratings with the financial ratings agencies Standard
& Poor’s (S&P) and Moody’s. These credit ratings allow the City to gain access to capital at lower interest rates.33
Rating Agency Standard & Poor’s (S&P) Moody’s
City AA+ Aa1
City Water Works AAA Aa1
CITY COUNCIL EXPENDITURES
Use of City Council Funds
Each fiscal year, as part of Council’s approval of the annual operating budget for the City, or as amended during
the year, Council appropriates a certain amount of public funds for expenditure by “City Council” and for “City
Council Contingency”. These funds are taxpayer dollars that the City has collected from the public to provide
vital local services. As such, it is City Council’s ongoing responsibility to consider the highest and best use of
these limited public resources. Council’s expenditure of these funds is also governed by Federal and State law.
To ensure all use serves the community’s interest and adheres to applicable law, public funds appropriated
for expenditure by “City Council” and for “City Council Contingency” may be expended by City Council in
accordance with this Council Procedure document, as follows:
Routine Administrative Costs Paid by Clerk or Manager
Funds may be expended (without a vote of City Council) for routine, ongoing costs necessary for the day-to-day
business of City Council, to include:
1. Purchase of office supplies, books, newspaper subscriptions, and other professional publications,
membership dues in organizations related to City Council’s duties (VML, Virginia First Cities, NLC, etc.),
printing and copying costs, postage, professional headshots, and City logo attire related to the business
of City Council or for the use of individual Council members or Constituent Service Representatives (CSRs)
for official City business;
2. Cost of technology provided to individual Council members and CSRs for official City business, including
computers, tablets, cellular phones, internet hotspot devices, printers, webcams, other peripherals and
accessories, cases, carrying bags, and fees for service and data storage associated with such devices;
3. Purchases of goods and services, including catering and meals, for City Council Work Sessions and/or
City Council Meetings, functions, or retreats (for example: a facilitator for a Council workshop; facility
rental, catering for a City Council meeting or retreat);
33
Credit ratings reaffirmed in 2023
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