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This year, the Government Finance Officers Association of U.S. and Canada (GFOA) has awarded Missouri City with the GFOA Distinguished Budget Presentation Award for the 32nd consecutive year. The international association noted that the award “reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting.”
To achieve this award, Missouri City has to meet nationally recognized guidelines for effective budget presentation that are designed to assess how well a government entity’s budgets serves as a:
Missouri City was rated “proficient” in all four categories, meeting all 14 mandatory criteria within each category, to receive this award.
The GFOA services the needs of nearly 19,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. The Association produces publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management; the GFOA Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.
“Stewardship of public funds is a top City priority and staff’s excellent fiscal management helps us to be proactive in preparing to meet the financial challenges of today and tomorrow,” said City Manager Anthony J. Snipes. “This industry award is indicative of the Show Me City’s dedication to creating, implementing and following the best budget policies and procedures.”
Another fiscal highlight we’re proud of is that “Moody’s Investors Service has also assigned an Aa2 rating to Missouri City’s $15.2 million dollar General Obligation Bonds, Series 2017, which reflects the City’s sizeable and growing tax base, its healthy reserve levels maintained by solid financial performance and policies, and its above average – but manageable – debt burden,” Snipes said.
According to Moody’s report, the City “will continue to experience growth given its location within the Houston metro area. Located about 20 miles southwest of downtown, the City’s tax base has experienced five consecutive years of growth to reach a sizeable $5.95 billion for fiscal year 2017.”
As of Fiscal Year 2017, Missouri City’s values in their Tax Increment Reinvestment Zones totaled $497 million, which leaves a net base for City operations and debt service at $5.46 billion. The report explains that the City’s tax base is diverse and, though it is primarily residential, the City continues to see ongoing development such as light industrial, manufacturing, and office space as well as retail and commercial establishments. Moody’s analysts commended the City for its significant developer investment in industrial spaces, including a newly opened 129-acre industrial park, which will contribute to ongoing tax base growth.
“Residential development remains strong as well, particularly in a large master-planned community,” the report noted. “Given recent trends, a favorable transportation network, and the City’s location within the Houston metropolitan area, the City will continue to experience growth in the near term.”
Residents may view the Full Report here.
For updates, please watch the City website, like us on Facebook, follow us on Twitter and Instagram, and watch Missouri City Television (Ch. 16 on Comcast and Ch. 99 on AT&T U-verse).