Comptroller's Office Recent Accomplishments

Selected Accomplishments

• Saved taxpayers more than $80 million through the refinancing and refunding of outstanding bonds and other debt. These innovative and complicated financial transactions are successful because of the comptroller's office policy of voting for the most qualified financial firms to represent the city.
• Issued more than $3.2 billion in bonds since 1996 to fund a variety of construction and capital improvement projects. Some of these projects include construction of the CityJusticeCenter downtown, LambertAirport runway construction, convention center upgrades, and Forest Park renovations.
• Spearheaded the effort to get the city's credit rating up to an A+ as of May 2008, the city's highest in 35 years. The city's ability to maintain this rating ensures the lowest possible interest rates on bond issues, saving the taxpayers money. The city's A+ credit rating also creates a favorable environment for private investment in the city, spurring economic and revenue growth.
• Latest state audit of the Comptroller's Office issued in December 2008 had no major findings.
• Uses the city's strong financial position created by its A+ credit rating and conservative fiscal policies to help leverage more than $6 billion in development throughout the city of St. Louis.
• Injected millions in one-time money to balance the city's budget through timely debt refinancings, including $12 million for FY 2001, $9.5 million for FY 2004 and millions more in additional funding over the years.
• Protected the taxpayers' interests in the BJC/Forest Park lease agreement by bringing the hospital and the citizens together, reducing the amount of green space affected and ensuring the city got a fair price for the land to fund city park maintenance and improvements for decades to come.
• Funded the purchase of new breathing equipment in 2008 for the fire department with $3.4 million in interest earned from a 1999 bond issue. This equipment was a high priority purchase for the fire department and vital for the safety of our brave men and women.
• Initiated a $13 million no tax increase bond issue in 2006 to fund communications equipment for the city's first responders, floodwall improvements and bridge repairs. The city of St. Louis is now the region's leader in interoperable emergency communications technology and continues to repair the floodwall and area bridges.
• Earned a credit rating outlook upgrade from stable to positive for LambertAirport in December of 2008.
• Refunded $824 million in LambertAirport debt over the years that freed up $36 million to reduce the airport's overall debt load and fund its operations.
• Created the LambertAirport debt service stabilization fund that adds additional protections and liquidity for airport finances, making debt issued by Lambert more attractive to investors. The fund currently has $13.8 million and expects to increase to $30.2 million by 2011 as a result of a 2005 bond refunding.
• Opened access to city government in 2007 by putting hundreds of city audits online. Thousands of people have accessed the Web site to learn how city departments are spending taxpayer dollars.
• Created a fraud reporting hotline in 2005 that gives city employees and the public a quick, easy and confidential way to report suspected fraud.
• Initiated a government-wide policy in 2004 requiring all city employees use personal codes for long distance calls. This initiative saves taxpayers thousands of dollars every year in long distance charges.
• Enriched the city's coffers for FY 2003 by $3 million and safeguarded an additional $12 million in Department of Health grant funding by initiating a fiscal review of that department's accounting practices. The city would have likely lost this vital health care funding if Comptroller Green did not intervene quickly and decisively.