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— Quincy Massachusetts News by Quincy Quarry News – News, Opinion and Commentary
(“Ruh roo”)
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While reviewing Quincy Mayor Thomas Koch’s Fiscal Year 2026 budget book, the quants on the Quincy Quarry News Financial and Other Affairs desk noticed that something usually included in budget books in recent years was missing: the full Standard and Poor credit report for the City of Quincy.
In turn, such baited a search by the Quarry’s quants and they so found that a month ago Standard and Poor hung a negative outlook on the City of Quincy, something which the Koch Maladministration has failed to disclose..
An even closer haircut looks to be coming …
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While not a downgrading of Quincy’s credit grade rating per se, a negative outlook is warning sign that a future rating grate cut is possible, if not also likely given the City of Quincy’s curious finances.
For example, Quincy Quarry is working a story about $16 million problem. As such, expect the Quarry to be reporting on this story as soon as possible, especially as at the end of the day this latest koched-up development is going to cost local taxpayers even more money.
In fact, a lot of money as in around $16 million.
Quincy’s financial strategy: spend now, worry later. At this rate, the only thing more inflated than the city’s debt is its ego. Maybe it’s time for a new motto: “Quincy—where the numbers don’t add up, but the excuses do.
Same shied different day quincy is trash…
Let’s hope the council takes a hard look at some of the inflated raises being proposed as well as the new positions. Time to pull back and trim some of the spending and Department heads need to accept the fact their salaries are on the line, 180,000.00 for positions in Quincy is over inflated.
This is the year for some courage and stand up for the Tax Payers the backbone of the community.
Fat chance of the city council doing its job. Most of its members are koched-up invertebrate tools on stools, especially my Ward 1 ward heeler.
it’s definitely concerning. While the city’s AA rating remains intact, the shift to a negative outlook suggests potential financial challenges ahead.
According to the S&P report, the negative outlook stems from Quincy’s elevated debt burden and reduced budgetary flexibility. The city has experienced consecutive fund balance drawdowns, with an estimated $8.8 million reduction in 2024, bringing reserves down to about 5.4% of general fund expenditures . This financial strain could impact the city’s ability to manage upcoming increases in debt service costs.
It’s also notable that the full S&P credit report was missing from Mayor Koch’s FY2026 budget book, as highlighted by Quincy Quarry. Transparency in financial reporting is crucial, especially when facing potential fiscal challenges. As a resident, I hope city officials address these concerns proactively to maintain our financial health and avoid a downgrade
Jimmy,
Surely the failure to include last month’s negative Standard and Poor’s credit review in the FY 2026 budget book was inadvertent.
After all, the Koch Machine is infamous for it for its carelessness, especially as regards financial matters.