City Government
The City of Rancho Cordova has a Council-manager form of government with five members elected to the Council, one of whom serves as mayor each year. The Mayor's post is thus simply that of "chief among equals for a time". In 2012, Rancho Cordova's Mayor is David Sander and Linda Budge is Vice Mayor. All current City Council members have served as Mayor during their terms on the Council.
The City of Rancho Cordova has maintained nine straight years of balanced budgets. Its sound financial status has been recognized by the rating agency Standard and Poor. In July 2012 Standard and Poor’s (S&P) Rating Services reaffirmed the City of Rancho Cordova’s A+ long-term rating, noting the City’s outlook is stable and it’s financial performance has been good. As a credit-rating agency, S&P issues credit ratings for the debt of public and private corporations and has been designated a nationally recognized statistical rating organization by the U.S. Securities and Exchange Commission. According to S&P, Rancho Cordova’s rating reflects the City’s “very strong wealth indicator, its good financial performance leading to a very strong fund balance, good financial management practices and policies, and its access to Eastern Sacramento metropolitan area.” “In our opinion, Rancho Cordova’s financial performance has been good with the City historically reporting consecutive surpluses,” said S&P’s analysis report. “The stable outlook reflects our view that City officials will likely continue to make the budgetary adjustments needed to maintain balanced operations, supported by at least what we consider strong available fund reserves.”
Read more about this topic: Rancho Cordova, California
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