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Press Release: Clarkstowns Rating from Standard & Poors Stabilizes at AA+

Press Release: Clarkstowns Rating from Standard & Poors Stabilizes at AA+
Posted on 03/24/2016

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Agency praises new Supervisor’s priorities of reducing expenditures and streaming operations

(New City, NY) – Clarkstown Supervisor George Hoehmann today announced after
suffering two credit downgrades in previous years, the Town’s credit rating has
stabilized at AA+ according to the latest rating by Standard & Poor’s.

The AA+ rating reflects Standard & Poor’s view that “the town has a newly elected
Supervisor and its financial management team has made reducing expenditures a
priority, by freezing vacant positions, reducing the workforce, and streamlining
operations, among other actions”.

“I am proud that Standard and Poor’s recognizes our efforts to turn the tide,” said
Supervisor Hoehmann. “We have proven that the era of business as usual in
Clarkstown is over and the era of reform has begun.”

Since taking office in January, Supervisor Hoehmann has cut over $1 million in salaries
in part by eliminating staff in the Supervisor’s Office and Town Attorney’s Office as well
as reducing salaries for the Assessor and Comptroller. In addition, Supervisor
Hoehmann initiated reviews of town government to look for efficiencies.

Standard and Poor’s also reported “we do not expect to change our rating within the
two-year outlook period.”

“I look forward to continuing the search for more ways to reduce our budget and its
impact on the taxpayers of Clarkstown,” concluded Supervisor Hoehmann.

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