The Irving City Council Work Session held on May 29, 2025, focused on financial updates and bond ratings, with key presentations from bond counsel Rob Collins of Bracewell and financial advisor Chris Janning of Hilltop Securities. Although Collins was unable to attend, the council was informed that they could submit questions for follow-up.

Chris Janning reported positive news regarding the city’s bond ratings, confirming that both Moody's and Standard & Poor's maintained their ratings for Irving's general obligation bonds at AA and AA1 for water and wastewater bonds. This stability reflects the city's strong financial management and healthy fund balances, which have been bolstered by the council's policy of approving rate increases to cover rising costs.

The council discussed the current year's bond issuance, which is significantly lower than the previous year's issuance of over $140 million for various projects, including parks and recreation. This year, the city plans to issue less debt than the approximately $67 million in principal it will pay off, indicating a stronger financial position moving forward.

Council members praised the staff for their thorough financial planning, particularly in budgeting for labor costs associated with new projects. This proactive approach ensures that funds are available for necessary equipment and furnishings when new facilities, such as fire stations, are completed.

The meeting also highlighted the city's impressive permitting activity, with over $1.2 billion in permits issued last year and projections to reach similar figures this year. The council emphasized the importance of maintaining transparency and accountability in financial matters, with a commitment to raising tax rates if necessary to meet debt obligations.

Overall, the session underscored Irving's solid financial standing and the effective management strategies employed by the city council and staff, setting a positive tone for future fiscal planning and community development.