Brentwood, Tennessee
Brentwood is one of the few cities in the United States with a Aaa bond rating. They achieved it thanks to the strong leadership skills of City Manager Michael Walker.
Imagine walking into a new job managing a company only to discover that the situation was tenuous at best. When Michael Walker took over as Brentwood’s city manager in 1990, the city was only 21 years old—young by city standards—and spent its early years in turmoil, suffering from a serious lack of competent, qualified management. The city’s General Fund was almost nonexistent (even after an increase in property taxes), the city had only an A bond rating, and the public didn’t trust its political leadership to solve its problems.
So Walker rolled up his sleeves and got to work, exercising his experience, training, and skill and soon earned the confidence of both the city commission and citizens to lead Brentwood toward prosperous times.
Described as a “consummate professional and talented leader” and “the best city manager in the state,” Walker ushered in Brentwood’s new era of tremendous development and growth while providing sound financial management of its tax dollars. During Walker’s tenure, the city maintained basic municipal services and a balanced budget without raising property taxes for 22 consecutive years. He invested in things like parks and libraries that helped raise property values. The city’s General Fund also grew to a respectable $30 million.
As other cities slowly recover from the greatest economic downturn since the Great Depression, Brentwood’s economy remains fundamentally sound and recognized nationally by Moody’s Investors Services and Standard and Poor’s with the highest possible bond rating—Aaa and AAA respectively. Brentwood also was recognized in 2012 as the top business-friendly city in Tennessee by The Beacon Center of Tennessee.
As a result of Walker’s responsible stewardship of the city’s finances, Brentwood has sound fiscal policies, reserves in the bank, and has been consistently improving quality of life for residents.