The major financial rating agencies in the country (Moody's, Standard and Poor's, and Fitch Ratings) have concluded that the City's finances are in the top tier of communities throughout the United States. This AAA rating from all three agencies is a significant accomplishment for the City and it reflects a great deal of hard work and discipline on the part of the Administration, the City Council, and the Finance Department. In their latest rating, Standard and Poor’s affirmed its Financial Management Assessment (FMA) of the City as “strong.” An FMA of “strong” indicates that practices are strong, well embedded, and likely sustainable.
View update from the City of Cambridge here .
Participatory Budgeting is a democratic process through which community members directly decide how to spend part of a public budget.
In June, the city finished the idea collection phase of the 2019 PB cycle. This year community members submitted over 1,600 ideas about how to spend $1 million to improve the city.
In the 2018 PB cycle, over 6,849 Cambridge residents age 12 and older voted to decide how to spend $925,000 on capital projects to improve the community – the most votes yet in a PB process in Cambridge.
The following 6 projects won $925,000 in FY20 Capital Funding:
Trees, please! ($200,000)
Water Fountains in Every Park ($90,000)
Protect the Health and Safety of our Firefighters ($110,000)
Smoother Cycling ($250,000)
Clean Up Cambridge ($125,000)
Rain Gardens for Resiliency ($150,000)
Want to submit an idea or get involved? Check out our Participatory Budgeting website .
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