~Mayor Proposed Internal Controls Assessment in March, City Council Endorsed in May~
~Progress Affirmed by City’s First-Ever AAA Bond Rating, Earned Last Month~
~Administrators Preparing for Seamless Transition to New Mayor & City Council~

July 25, 2024

RICHMOND, VA – City of Richmond administrators said today that they are beginning the next steps in the City’s three-year operational turnaround, as the City continues systematically putting in place the foundational building blocks of a highly-functioning city government. The steps are yielding clear results, as demonstrated by Richmond earning its first ‘AAA’ bond rating last month after years of working to achieve the country’s highest financial standard.

City leaders said the administrative turnaround is designed to continuously improve operational performance, aiming to ensure a seamless transition as residents elect a new Mayor, City Council, and School Board in November.

“Richmond residents have long called for improvements in basic city services. We want to make this government better than it has ever been,” said Mayor Levar Stoney.

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