Posted Thursday, January 24, 2013 --- 10:50 a.m.

Press Release from the City of Madison:

Citing statistics that include a low unemployment rate, an Aaa credit rating, and a city ordinance that bans the government from using emergency reserves to fund the operating budget, unless two thirds of council membership vote otherwise, a national financial news and opinion on-line publication has declared Madison to be the second best run city in America.

The publication, 24/7 Wall Street, researches and publishes articles on financial and market information.

In the recent article, http://247wallst.com/2013/01/15/the-best-and-worst-run-cities-in-america/3/, Madison is ranked higher than a number of cities of similar size including, Lincoln, NE; Freemont, CA and Irvine, CA as well as larger cities such as Virginia Beach, VA; Raleigh, NC; and Seattle, WA.

In awarding the ranking to the City of Madison, authors cited the local employers in fields such as technology and healthcare, and additionally noted that 54% of the city's adult population has a bachelor's degree.

"It is always good to be recognized for the hard work being done to maintain our good fiscal standing," said Mayor Paul Soglin. "What I am interested in pursuing next is unseating Plano, Texas, which is ranked as the best run city in America."