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Once again S&P Global Ratings recognized the City of Blue Springs and its staff’s strong financial management and budget planning.

On Nov. 3, S&P Global Ratings affirmed the City of Blue Springs’ AA general obligation rating and assigned an AA- rating to the roughly $35.69 million series 2022 special obligation bonds for the City’s aquatic facility, categorizing the City’s financial situation and outlook as ‘stable.’  An AA rating is the third-highest bond rating S&P assigns to municipal bonds.

“The City's very strong management, with strong financial-management practices and policies under our Financial Management Assessment (FMA) methodology, has allowed Blue Springs to report positive financial results and maintain very strong budgetary flexibility recently,” the S&P Global Report states. 

According to the S&P report, the rating reflects the City’s strong local economy, proactive management with strong financial policies, and conservative and flexible budgeting practices.

“This report shows our taxpayers that we are managing the City’s finances responsibly and we will continue to do so while providing our residents with vital City services,” Christine Cates, Deputy City Administrator of Finance and Administrative Services said. 

With the AA stable bond rating, S&P Global Ratings, states they expect the City of Blue Springs will maintain strong fund reserves supported by strong financial management policies and practices. 

For more information on the City’s Bond Ratings, go to www.standardandpoors.com. For more on the City’s budgetary and financial information, go to www.bluespringsgov.com.

On Monday, Sept. 19, the Blue Springs City Council voted to adopt the Fiscal Year 2023 operating budget of $109,834,284. The new budget will go into effect on Oct. 1, 2022.

The FY 2023 Annual City Budget focuses on delivering important City services to residents and improving the vital infrastructure of the City. 

“Our core and essential services always receive the highest priority in committing funds, but all budgeting decisions present unique challenges due to the City’s limited resources,” City Administrator Mike Ekey said. “Still, this budget makes clear to our residents the value they receive each day from their tax dollars.”

Capital Improvements make up the largest portion of the City’s Annual Budget at $46.42 million – with $35 million for the Blue Springs Aquatics facility. This funding comes from the anticipated sale of bonds, which will then be repaid through the voter-approved Parks Sales Tax. The City expects to break ground on the Aquatics Center in November 2022 with a projected completion date of May 2024. Another $8.2 million from Parks Sales Tax Fund will go toward planned park maintenance projects in 2023. 

The FY 2023 budget also includes $4.8 million dedicated to the Streets Improvement Program, which includes the reconstruction, milling, and overlay of City streets in need. Other capital investments include $2.7 million for water and sewer system improvements and $150,000 for a police security camera pilot program. 

A significant piece of the City’s operating budget funds employee compensation and benefits. More than 315 full-time equivalent positions are funded in the FY 2023 budget, which is a net increase of one position from the FY 2022 budget. Total salaries and personal costs are estimated at $25.2 million and make up about 23 percent of the total budget.

To prepare the City’s 2023 budget, City staff worked diligently to ensure limited funding was committed to delivering vital City services and to further the strategic goals and objectives set by the Mayor and City Council. Staff uses an approach that required each department to prepare their budget requests as if they were doing it for the first time and with the understanding that available resources must be dedicated to targeted service areas that address the City’s strategic goals. 

The full FY 2023 Annual Budget, and the Budget Snapshot are available on the City’s website at www.bluespringsgov.com.