The news announced last week by Mayor Dan Rizzo and Revere Director of Finance George Anzuoni of the bond rating upgrade from Standard and Poor’s comes as great news for the taxpayers and residents of Revere.
One only has to remember about a year ago when this same company downgraded the United States bond rating and the turmoil this caused in the world markets.
For us, this rating increase means that the cost for borrowing money that could add up to millions of dollars to do sidewalk and road repairs or build new school buildings or new centers for our youth and senior citizens just became a little cheaper. This translates into our city leaders being able to stretch the taxpayer dollar a little more and being able to do a few more streets or sidewalks without burdening the taxpayer.
We view this upgrade as victory not only for good management but also for the continuing comeback of our city. Like the old Chinese proverb states, “victory has many fathers.” First, there is Mayor Rizzo who has direct oversight of the city budget — both on the revenue side and expenditure side.
Then there is Director of Finance George Anzuoni. Revere taxpayers are indeed fortunate to have such a steady hand on the budget. Anzuoni is the no nonsense type of director that this job requires. One can be sure that when Anzuoni says something about the figures in the city budget, there is never a reason to go searching to check if the information is factual and true.
Lastly, the City Council and School Committee members should also be commended for staying to a budget. Working with both the elected and appointed city department heads, they have kept the budget honest and in balance.
This rating upgrade is truly a team effort.