Goal 6: Enact Comprehensive Financial Management
Administer Louisville Metro Government's assets and obligations with fiscal integrity; in a reliable, transparent, and consistent manner.
Comprehensive financial management ensures the overall financial health of Metro Government. Sound financial health entails balanced budgets, sufficient fund balances, transparency with financial markets, and appropriate internal controls for unqualified audits.
Initiative Health: What are we doing to accomplish this?
The Fiscal Year 2015 Unassigned Ending Fund Balance was $66.1 million.
As of June 30, 2015, the Risk Fund was funded at 66%.
The Fiscal Year 2015 financial audit was concluded by December 31, 2015, with no material weaknesses or signficant deficiencies. The Fiscal Year 2015 Federal A-133 audit is in process, and anticipated to conclude by February 29, 2016. There are no material weaknesses or significant deficiencies anticipated.
Metro received the following bond ratings for the 2015 A and B bond issues:
Fitch - AAA
Moody's - Aa1
S&P - AA+
All ratings were affirmed with stable outlooks.
Labor contracts have been settled within Metro's long term revenue growth percentage. Budget outcomes will be monitored over the course of Fiscal Year 2016.