FINANCE DEPARTMENT ACCOMPLISHMENTS

Finance & Accountability Home Awards: The City of Knoxville has received theCertificate of Achievement for Excellence in Financial Reporting every year since 1986 and the Distinguished Budget Presentation Award every year since 1989. Bond Rating Changes: * Moody's Investors Services upgraded the City from A to A1 in December 1988. They again unofficially upgraded the City from A1 to AA3 in late 1998. * Standard and Poor's upgraded the City from A+ to AA- in December 1988 and again upgraded the City from AA- to AA in May 1997. * Fitch/ICBA first rated the City a AA- in April 1996 and upgraded the City from AA- to AA in November 1998. Financial Advisory Service: It is common practice for the City to solicit proposals for financial advisory service every three to five years and to competitively bid actual bond sales. This way the City stays current with happenings in the market and receives the best advise and rates for the City.