2025 Annual Report - Report - Page 11
AAA BOND RATING REAFFIRMED
RECORD-LOW INTEREST RATE ON BOND SALE
Charles County once again earned an A A A bond
rating from Fitch Ratings, SandP Global Ratings,
and Moody’s Investors Ser vice, reaf firming the
count y’s strong fiscal stewardship and long-term
financial stability. After reviewing the county’s financial health, budget management practices, audits,
and economic development efforts, the agencies
confirmed the highest possible rating for the ninth
consecutive year. Maintaining this triple-A status
allows Charles County to borrow at the lowest possible interest rates, saving taxpayers millions over
time while demonstrating a continued commitment
to responsible financial management.
Building on this strong financial standing, the county
successfully completed a competitive bond sale on
November 18, issuing approximately $69.2 million
in Consolidated Public Improvement Bonds at a low
interest rate. The bonds provide long-term funding
for priority infrastructure projects, including school
construction and renovations, government facilities, parks and recreation improvements, and water
system upgrades.
The rating agencies cited Charles County’s diverse
and stable economy, growing population, low
unemployment, modest long-term liabilities, and proactive climate resilience initiatives as key strengths
supporting the Triple-A designation. Together, the
reaffirmed rating and successful bond sale signal
to residents, businesses, and investors that Charles
County remains financially strong, well-managed,
and committed to sustainable, long-term growth.
Learn more at: CharlesCountyMD.
gov/government/departments/fiscal-and-administrative-services/
budget-division
Charles County’s continued Triple-A
bond rating reflects our community’s
strength, and our government’s commitment to
sound financial management. For nine years in
a row, we’ve earned the highest possible rating
because we plan responsibly, invest wisely, and
work together to build a strong future for our residents. This achievement belongs to everyone who
calls Charles County home.
— Reuben B. Collins II, Esq.
Commissioner President
INTERNAL AUDIT EARNS TOP RATING
Following this achievement, the County updated
its Internal Audit Char ter to fur ther streng then
oversight, independence, and accountability. The
revisions clarified the roles and responsibilities
of the Internal Audit Office and the Internal Audit
Oversight Committee, expanded audit authorit y
across all County operations, and formalized internal
and external quality assessments, reporting procedures, and follow-up processes. These updates
ensure continuous improvement and alignment with
the Institute of Internal Auditors’ Global Standards,
protecting public resources and serving the community effectively.
Charles County Government Annual Report • 2025
The Charles County Internal Audit Office completed
its first external peer review and received the highest rating possible. This independent assessment
confirmed that the Office’s quality control system
is well-designed, effectively implemented, and provides reasonable assurance of conformance with
professional auditing standards, underscoring the
County’s commitment to transparency, integrity,
and high-quality audit services.
The Charles County Internal Audit Office demonstrates its ongoing commitment to maintaining
rigorous audit standards, supporting the County’s
mission to ensure fiscal responsibilit y
and public trust.
Learn more at: CharlesCountyMD.gov/
government/internal-audit/peer-review
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