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City Manager | New Brighton8 <br />THE CITY IS in a strong financial <br />position both today and looking <br />forward. The organization is at a <br />good point to transition to a new <br />City Manager who will assist the <br />City in building on the momentum of <br />what has been achieved. Innovative <br />tools for financing future projects <br />have been adopted. The City <br />has established a Capital Asset <br />Replacement Program for Fleet and <br />Non-Fleet Replacement, IT, and <br />Pavement Management. The City <br />will enjoy debt-free streets in 2025, <br />reallocating LGA from the General <br />Fund to support funding of annual <br />street reconstruction projects. As a <br />result, the City will no longer need <br />to issue external debt or bonding for <br />any street reconstruction projects. <br />The City received a bond rating <br />upgrade in 2019 to a AA+. The last <br />upgrade was received in May of <br />2009. The City conducts an annual <br />long-term utility analysis to forecast <br />utility rates based on projected <br />operating and planned capital <br />expenditures. The financial picture <br />of the City is outstanding. <br />City Finance