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Awards and Recognitions
Standard & Poor's Bond Rating Agency Issues Bedford Improved AA+ Bond Rating
Citing economic growth, sound financial performance and policies, as well as strong management, independent bond rating service Standard & Poor’s (S&P) recently upgraded Bedford’s General Obligation bond rating from AA to AA+. Equipped with the higher bond rating, the City will be able to save millions of taxpayer dollars through lower interest rates. This is the highest bond rating the City has received, and the first time it was upgraded since Bedford was initially rated by S&P in 2009.
“I’m thrilled to hear about the bond rating upgrade from the S&P,” said Bedford Mayor Michael Boyter. “Our actions, which include decreasing our labor force, refinancing debt to lower rates, and reducing our expenditures by nearly $6 million this past year are just a few examples of how Bedford is committed to becoming an organization of excellence. This wouldn’t have been possible without the fantastic leadership of our City Manager and our entire management team.”
According to S&P, the change reflects the “very strong” economy in Bedford, derived from ongoing development, redevelopment, and strong sales tax collections over the past five years. Additionally, S&P stated Bedford has “very strong” financial reserves and budgetary performance.
“Every department within the City has been looking for ways to provide more to residents in a more cost-efficient way and this rating is a reflection of those changes and the strong support of the Mayor and City Council,” said City Manager Jimmy Stathatos. “We are focused on maximizing every tax dollar and the improved rating will allow us to stretch funding even further to benefit the community. While we have come a long way in a couple years, there is still work to do to keep Bedford moving forward.”
View the entire rating report.
City Recognized for Excellence in Financial Reporting
The City of Bedford was awarded its 26th consecutive Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) for the City’s annual comprehensive financial report for the 2020-2021 fiscal year.
This achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
Bedford Earns Gold in Prominent Scenic City Certification
Bedford was named a Gold Award recipient through the Scenic City Certification Program, which currently recognizes 91 Texas cities for their demonstrated commitment to high-quality scenic standards for public roadways and spaces.
The City was presented with its gold-level certification during the Texas Municipal League annual conference in San Antonio. The Scenic City certification is not new to Bedford, as the City was previously awarded the bronze level certification in 2017. Bedford was one of five cities to rise in the rankings in 2022. Learn more about Scenic Texas.
Achievement of Library Excellence Award
For the 11th consecutive year, the Bedford Public Library received the Achievement of Library Excellence Award from the Texas Municipal Library Directors Association. Out of 542 public library systems in Texas, only 73 received this honor; meaning, your Bedford Library is in the top 15 percent of all public libraries in the state. To achieve this, libraries were evaluated for their variety of services, programming, and staff development that occurred in 2022.
Texas Association of Telecommunicators Officers & Advisors
Bedford's Communications Division won two awards for City-produced videos at the annual Texas Association of Telecommunications Officers and Advisors (TATOA) conference in McAllen. These are the first video production awards won by the City.
The City brought home:
- First Place (Public Service Announcement) – National Police Week
- Third Place (Community Event Coverage) – Holi Festival of Color
Purple Heart City
In February 2022, Bedford was recognized as a Purple Heart City, for the City's continued support of the men and women in our Armed Forces who have selflessly served our country. Bedford is proud to honor our Purple Heart recipients and acknowledges their acts of courage and resilience to defend our freedom. Learn more about the Purple Heart designation.
Achievement of Library Excellence Award
For the 10th consecutive year, the Bedford Public Library received the Achievement of Library Excellence Award from the Texas Municipal Library Directors Association. Out of nearly 570 public libraries in Texas, only 59 received this award, based on a variety of services, programming, and staff development that occurred in 2021.
Distinguished Budget Presentation Award
For the 25th consecutive year, the Government Finance Officers Association of the United States and Canada (GFOA) presented the City with its Distinguished Budget Presentation Award for the City’s 2020-2021 Fiscal Year budget.
In order to receive this award, the City had to satisfy nationally-recognized guidelines for an effective budget presentation. These guidelines were designed to determine how well the City’s budget served as a policy document, operations guide, financial plan, and communications tool. With more than 19,500 municipalities in the United States, only 1,158 received this budget award last year, including Bedford. Learn more about the City budget.