The Town of Tolland has just completed a rating review with Standard & Poor’s and Fitch.  Fitch has assigned a long-term rating of “AA+” to the Town’s 2010 General Obligation Bonds and Standard & Poor’s an “AA”.  The rationale behind these ratings was: 

• Tolland’s prudent fiscal management practices have resulted in solid reserve levels and healthy financial flexibility.
• The debt burden is moderate with above-average amortization and is expected to remain manageable.
• Although economic development has slowed, indicators, such as unemployment, wealth, and tax base growth remain above-average.
• Management’s sound budgeting and fiscal practices are expected to continue producing stable operating results and maintenance of healthy fund balance levels. 

 A copy of the full rating reports can be obtained in the Finance Office.

Through the diligent work of residents, the Town of Tolland has seen a reduction of 8.3% in the amount of refuse tonnage from 7/1/09 to 7/1/10 compared to the prior year.  The Town has seen a decrease in the amount of refuse tonnage by more than 414 tons.  This translates to more than $28,600 in savings.  This can be directly related to the new single stream recycling program.  Over that same time period our recycling tonnage has increased more than 19%.  Please keep recycling!  Read the rest of this entry »