City of Dublin, OH – Limited Tax Obligations Surveillance Report
Rating Summary
The long-term rating continues to reflect the City of Dublin’s (the “City’s” or “Dublin’s”) diverse and growing tax base, characterized by strong wealth and employment levels, robust income tax receipts supporting payment of debt service, and conservative City budgeting and financial management practices. The City’s strong liquidity, highlighted by a FYE (Dec. 31) 20241 unassigned general fund reserve equal to 64% of general fund expenditures (including transfers out), moderates the potential variability associated with the City’s largest revenue source, income tax receipts. Likewise, Dublin’s solidly growing tax base and above average income levels result in manageable FY 2024 net direct and overlapping debt relative to full market value (FMV, 3.7%). KBRA notes the City has a higher than typical population of non-resident workers, skewing leverage indicators when measured on a per-capita basis.
Limited Tax General Obligation (G.O.)…
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