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Finance: Freeport, Tacoma

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Port Freeport officials are encouraged by the affirmation of the prior "A" rating and stable outlook by Standard & Poor’s Rating Services, based on the port’s senior-lien revenue refunding bonds and revenue notes. The Government Finance Officers Association has awarded the Port of Tacoma its Distinguished Budget Presentation Award for the port’s 2014 budget document.

Port Freeport Earns Solid "A" Rating from Standard & Poor’s Ratings Services

Port Freeport officials are encouraged by the affirmation of the prior "A" rating and stable outlook by Standard & Poor’s Rating Services, based on the port’s senior-lien revenue refunding bonds and revenue notes.

"We are pleased with the confidence shown by Standard & Poor’s in the Port’s ability to increase operating revenues while decreasing reliance on ad valorem tax revenue," said Port Freeport Executive Port Director/CEO Glenn Carlson. "This highly respected ratings service has again placed Port Freeport’s district among the top ranking of seaports."

Standard & Poor’s analysts cited that the port has maintained steady growth in both tonnage and financial performance. The analysts noted that tonnage has trended positively since 2009 with a 6 percent increase.

Port of Tacoma Earns National Award for 2014 Budget Document

The Government Finance Officers Association has awarded the Port of Tacoma its Distinguished Budget Presentation Award for the port’s 2014 budget document.

To qualify for the award, the port "had to satisfy nationally recognized guidelines for effective budget presentation," according to the association’s award announcement. "It reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting."

The budget document provides an overview of the port’s business, including strategic priorities, operating budget, capital investment program and financial measures.

The Chicago-based nonprofit association serves nearly 18,000 government finance professionals throughout North America.

 

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