"Dassing, Cascarano and Brown for Caldwell" Cite S&P Report Describing Borough of Caldwell As Very Strong

by Dassing, Cascarano and Brown for Caldwell / Facebook

Published 11:06am

CALDWELL, NJ - Citing its “stable outlook” and an economic profile described as “very strong,” Standard and Poor last month affirmed the Borough of Caldwell’s ‘AA-’ rating. 

    “We are very excited about this report,”
said Mayor Ann Dassing, who is running for re-election in November’s election.
“Much of the reasons we were able to keep 
Caldwell’s economic profile so strong is because of the fiscally sound measures
I’ve strived to enact and will continue to as Mayor.” 

The report cites several factors which contributed to Standard and Poor’s findings, including a current $330,000 fund surplus from the end of fiscal year 2013, which increased the total balance to $870,000. Importantly, the report also notes that the Borough government has no plans to raise the property tax rate, which accounts for approximately 58% of fund revenue. Still the Borough, as noted in the report, “maintains very strong liquidity, providing adequate cash to cover debt service and expenditures.”

John Cascarano and Kris Brown, candidates for Borough Council on Mayor Dassing’s ticket, also expressed satisfaction with the report.

    “The good work that the Mayor has accomplished over the past four years
is exactly the type of leadership and government
that Caldwell deserves,” said Cascarano.
“This is why I’m running, to make sure that all of the good work
and progress this administration has accomplished continues,
for my family and everyone else.”

Brown echoed this sentiment. 

“In these difficult economic times,
I’m happy that Caldwell is bucking that trend and remaining stable,” said Brown.
“It wasn’t that long ago that property taxes jumped as much as 36% in one year. We can’t go back to those days, which is why it’s important to reelect the Mayor, and send both of us to the Council.” 

For her part, Mayor Dassing insists she is proud of her record as Mayor. 

“The past few years, I’ve been able to keep spending down
and taxes virtually level without sacrificing any services,” said Dassing.
“I’m proud of that, I’m proud of my record,
and I’d be honored to have four more years as your Mayor.”

Further Information
Dassing, Cascarano and Brown for Caldwell
14 Hatfield Street, Caldwell
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"Lower Taxes.  Better Services.  Continued Progress"

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