How Ferguson Township Manages Finances

In addition to collecting taxes, the Finance Department of Ferguson Township manages the investments, custody and control of municipal funds. A fund is an independent fiscal and accounting entity with a self-balancing set of accounts. Funds maintain separate records of cash and other resources, together with all related liabilities, obligations, reserves, and equities. The purpose of a fund is to carry out specific activities or attain particular objectives in accordance with special financial regulations, restrictions, or limitations.

Ferguson Township also issues bonds to fund some capital projects in the community. The Township has a AAA Bond Credit Rating, the highest bond rating attainable, from Moody's Investment Service. This Bond Credit Rating represents the credit worthiness of corporate or government bonds and is used by investment professionals to assess the likelihood the debt will be repaid. Moody's Bond Ratings range from AAA all the way down to C. AAA means "an obligor has an extremely strong capacity to meet its financial commitments". Think of the bond rating as the Township's credit score and will allow the Township to receive lower interest rates on bonds.

In addition, Ferguson Township has received the Government Finance Officers Association’s (GFOA’s) Distinguished Budget Presentation Award for our 2019 budget.

These two accomplishments demonstrate the strength of Ferguson Township's finances and financial policies and procedures. Our Board of Supervisors and staff will continue to work diligently to continue the growth and success of Ferguson Township.