...The 'AA+' Issuer Default Rating (IDR) and general obligation (GO) bond rating reflect Trumbull's 'aaa' financial resilience, given the town's unlimited ability to adjust tax rates, its 'Midrange' expenditure control, and Fitch Ratings' expectation that the town will maintain unrestricted reserve levels at or above 10% of spending. The town benefits from high educational attainment and income levels, which serve to balance out generally flat population growth trends and unemployment rates that trend slightly above national rates. Long-term liabilities associated with debt and net pension liabilities (NPLs) are low relative to governmental resources but may increase due to a sizable school construction project that the town anticipates will be proposed to voters for the November 2024 ballot. Town management estimates that additional debt associated with the project would total about $81 million (net of state reimbursements for a portion of school construction costs). The Positive Outlook...
