 Town Receives Moody's Ratings Boost; Promotes Two New Police Lieutenants
Town Receives Moody's Ratings Upgrade
The Town of Fishkill is pleased to announce that it has received an upgrade in ratings from Moody's Investor's Service, the gold-standard of the credit rating industry.
After reviewing Town financial statements and budgetary practices, the Town has been upgraded from the Aa2 rating to the Aa1 rating, the second-highest out of 21 possible credit ratings on the Moody's scale.
Among other factors, Moody's cited the Town's conservative budgetary practices and its strong revenue returns including sales tax and mortgages tax. Additionally, the Town has increased its reserves by more than $1.5 million in the past year.
Councilman Brian Wrye heralded the ratings boost as the result of good financial management.
"It's obvious from this report that through a series of right decisions over a course of time, that the Town is moving in the right direction," Councilman Wrye said. "We should all be proud of that."
The upgrade in the Moody's rating to Aa1 is just the third such rating awarded by Moody's to a local government organization in New York so far in 2022. With this boost, the Town of Fishkill now has the highest Moody's credit rating Dutchess County, moving above a number of organizations which share the Aa2 designation, including Dutchess County government. Town Supervisor Ozzy Albra and Councilman Carmine Istvan agree the upgraded rating is a tremendous accomplishment for the Town.
"The only rating higher than the Town's Aa1 rating is the triple-A (Aaa) rating, and no local government in our area has the triple-A rating," the Supervisor and Councilman said.
Supervisor, Board Hails Town Staff
Supervisor Albra hailed Town staff as the main factor in the Town's upgraded credit rating.
"Our ability to stay open during the pandemic came down to our employees showing courage and dedication by coming into work and continuing the business of the Town in a safe environment that mitigated risk," Supervisor Albra said. "Because we were able to stay open, we were able to process building permits, home sales and so many other business items. While many other municipalities are hurting financially due to the pandemic, the Town of Fishkill is in excellent financial condition, and this ratings increase is evidence of the great work our staff has done."
Supervisor Albra's sentiments were echoed by Councilman Carmine Istvan, who applauded decisions made in 2020 at the onset of the COVID-19 pandemic which made it possible for the Town to remain open.
"We have a terrific staff at the Town of Fishkill, and the Town was able to glass in the service windows at Town Hall so residents could continue doing business. I applaud those decisions," Councilman Istvan said.
Supervisor Albra and Councilman Istvan also gave a special nod to Town Finance Department staff, whose assistance on budgeting and financial matters has been crucial to the Town's ongoing financial growth.
"We couldn't grow without the work of our Finance Department staff, and I applaud Sharon and her team, Olympia, Koreen, Erik and Rick for their phenomenal work," Supervisor Albra said.
Councilman Istvan said he looks forward to working with Supervisor Albra and the rest of the Town Board to continue the Town's ongoing trend of financial growth into the future.
Town Promotes Two New Police Lieutenants
The Town Board announced the promotion of two new Town of Fishkill Police Department Lieutenants on Wednesday.
At Wednesday's Town Board meeting, the Board voted unanimously to promote Sergeants Patrick Cadden and Craig Wood to the rank of Lieutenant. Following the meeting, the new Lieutenants were presented with their new badges in a ceremony with Town officials, Police Chief Keith Dworkin and their families.
"I'm glad to see that we were able to grant the Chief's request to fill these two lieutenant positions," Councilwoman Louise Daniele said. "I hope they will be able to alleviate some of the supervisory duties the Chief has been doing."
Lt. Patrick Cadden has been in law enforcement for nearly 30 years, and has served with TFPD since 2018 after retiring from the Town of Newburgh Police Department after 25 years of service.
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Lt. Craig Wood has more than 35 years of experience in law enforcement and served for more than 20 years in the New York Air National Guard. Lt. Wood is a former fire chief in Vails Gate and a former Detective with the NYPD.
Councilman Wrye said the appointments will lead to improved operations at the Police Department, and a higher quality service to residents.
"It's my goal to help the Police operate efficiently, effectively, and provide the best protection for the residents," Councilman Wrye said. "I'm very proud to work with our great Police Department and I'm very impressed with our new Lieutenants. I'm sure they'll be an asset to our Police Department."
Congratulations, Lt. Cadden and Lt. Wood, and best of luck!
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Honoring Those Who Served
The National Purple Heart Hall of Honor, a museum overseen by the New York State Office of Parks, Recreation and Historical Preservation, is open in the Hudson Valley.
Dedicated to honoring the countless men and women who have received the Purple Heart and remembering their stories, the recently-expanded museum is located in Orange County at 374 Temple Hill Road (Route 300) in New Windsor.
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In addition to housing exhibits and interactive educational videos, the Hall of Honor is also accepting registration from qualified veterans who received the Purple Heart during their service to our nation. Supervisor Albra encourages everyone to learn more about the Purple Heart, its importance in helping our nation understand the cost of freedom, and the free-to-visit Hall of Honor museum by visiting the webpage from the Office of Parks by clicking here.
Holiday Closing Monday
Supervisor Albra wishes to remind residents that Town Hall and other offices will be closed on Monday, February 21, 2022 in observance of Presidents' Day, and will reopen on Tuesday, February 22.
As always, if you have any questions or concerns, feel free to contact Supervisor Albra at anytime by email at supervisor@fishkill-ny.gov or by phone at (845) 831-7800 ext. 3309
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