Phoenix closes books on 2010-11 fiscal year with balanced budget, AAA credit rating - East Valley Tribune: Ahwatukee Foothills

Phoenix closes books on 2010-11 fiscal year with balanced budget, AAA credit rating

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Posted: Tuesday, August 2, 2011 1:00 pm | Updated: 12:05 am, Wed Aug 3, 2011.

The city of Phoenix finished fiscal year 2010-11 with revenues right on target, expenses under budget and a AAA credit rating, the highest credit rating of the six largest cities in the United States.

"Despite one of the worst economic meltdowns in the history of the United States, Phoenix maintained the highest possible bond rating, which in turn has saved taxpayers millions of dollars in interest expenses," said Mayor Phil Gordon.

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