S&P Awards Simi Valley AAA Bond Rating; City Saves $3.2M in Reduced Financing Costs
December 3, 2014 – OpenGov
The picturesque City of Simi Valley is an affluent suburban community situated 40 miles northeast of Los Angeles. Home to over 120,000 residents, Simi Valley frequently ranks among the safest and happiest cities in the U.S. City administrators are highly respected by the community and by finance officers nationwide for their leadership in financial planning and budget management, winning frequent awards from the Government Finance Officers Association and the California Society of Municipal Finance Officers.
Recently, the Simi Valley City Council challenged administrators to be more creative about how budget information was presented to the community. In an era of increasing public information requests, the city wanted to be proactive about communicating the budget in an accessible, public-friendly format.
Read this case study to learn how:
- OpenGov enables city administrators to provide accessible, engaging budget information to the public
- Simi Valley uses OpenGov to demonstrate budget transparency and strong financial management to S&P, helping the city earn a historic AAA rating
- Increased budget transparency reduces public information requests, saving the city an estimated $10,000 per year
- OpenGov increases staff productivity by removing internal barriers to information sharing
Category: Customer Story