REVERE â€“ Standard and Poorâ€™s rating services has given the city of Revere a rating of AA-. Another association has given the city an award for its distinguished budget presentation and the state Department of Revenue has certified the city has over $6 million in free cash.
â€œThe city of Revere is going in a positive direction,â€ said Councillor Arthur Guinasso. â€œWe need to spend money to keep the city alive and well. Itâ€™s great news and a tribute to City Hall.
Mayor Dan Rizzo agreed, adding that residents should be happy that residents live in a city where the budget is under control because of the work at city hall and the city council.
For the first time in history the city has received the â€œDistinguished Budget Presentationâ€ award from the Government Finance Officers Association. Since Rizzo took office in 2012 the budget has become more user friendly and accountable to the community. The city is one of a handful that have this distinction. The budget presentation is assessed as a policy document, a financial plan, operations guide and communications device.
Councillor Anthony Zambuto said he is excited. â€œThis is the best ever done in the city,â€ he said. â€œRevere is a city on the move. Congratulations to the Mayor and George (Anzuoni, director of finance).â€
Â The Massachusetts Water Resources Authority a is also providing no interest loans for repairs and upgrades to the cityâ€™s aging water system.