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East Hampton Village’s Fiscal Health Strong

Thu, 10/10/2019 - 11:37

East Hampton Village is in strong fiscal health, according to an annual review from Moody’s Investors Services, which gave the village an Aa1 bond rating, the company’s second highest, and one that is above the median rating for American cities. The report was based on 2018 figures.

The village has an “exceptionally strong” economy and tax base, its debt burden is “extremely small,” and its finances are “robust,” the report said.

Between 2014 and 2018 there was an “impressive increase” in the village’s available fund balance, which, at nearly 60 percent of operating revenues, far exceeds the national median.

The one slight weakness affecting the rating, according to the report, was the village’s pension liability, which has grown to 1.7 times its operating revenue. That number is on par with the national median.

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