Whose financial legacy is truly at stake—Purcellville’s or Fraser’s?
Part 3 of our four-part series explores the claims made by Kwasi Fraser about his achievements and contrasts them with the actual circumstances in Purcellville. By analyzing statements related to debt reduction, fiscal management, and community engagement, we seek to present a clearer understanding of the true financial health and governance of Purcellville.
8. STATEMENT: Reduced inherited Debt by $9 Million: Our administration made fiscal responsibility a priority, cutting debt by $9 million and eliminating early prepayment penalties and balloon payments, saving millions in future interest.
IN REALITY: Mayor Fraser utilized $3 million in cash reserves to pay off debt on the Aberdeen Property and Fireman’s Field. This approach was not a creative strategy to lower a nearly interest-free loan but rather a necessity to monetize the properties. The wastewater fund debt amortization schedule, as of spring 2020, indicated interest payments totaling $21,054,885.85. Following the 2017 restructuring initiated by Mayor Fraser, interest payments totaled $23,487,653.82. Fraser’s restructuring resulted in an additional $2,432,767.97 in total interest due, which did not constitute a saving. Additionally, debt was reduced as Purcellville made its loan payments. Unfortunately, the length of debt obligations was extended through restructurings; after the 2017 changes, Purcellville’s debt was extended by four years.
9. STATEMENT: Protected Water and Sewer Rates: We kept water and sewer rates low, allowing residents to keep more of their hard-earned money while reducing overall debt—resulting in $8 million in cash flow savings.
IN REALITY: Rates were maintained at artificially low levels, as noted by previous Town Managers and financial consultants. Fraser restructured the debt to extend the loan and minimize immediate rate increases. In 2021, the Council removed Capital Improvement Plan (CIP) expenses from utility costs to justify the lower rates, creating an unrealistic picture of the costs associated with maintaining our water and wastewater infrastructure.
10. STATEMENT: Maintained Our S&P AAA Credit Rating: Despite economic challenges, we retained a top-tier credit rating throughout our tenure, a testament to sound financial management.
IN REALITY: Staff indicated that credit agencies consider a municipality’s ability to pay its debts when assessing credit ratings. A strong credit rating does not necessarily reflect wise financial decision-making by the Council. Purcellville’s demographics suggest that residents have the income necessary to meet their obligations. However for a short time, the town experienced a downgrade in its credit rating due to rates not being set to adequately cover future utility department needs.
11. STATEMENT: Equalized the tax rate: We lowered the Fireman’s Field District tax and found ways to deliver more with less.
IN REALITY: While the Fireman’s Field tax rate was lowered, projected costs have subsequently increased. The budget has identified CIP projects totaling $700,000 to ensure the safety of athletes and fans at Fireman’s Field.
12. STATEMENT: Prevented a Financial Crisis: We restructured the wastewater fund debt, avoiding a looming $2.9 million annual balloon payment that would have crippled the town’s finances between 2020 and 2030.
IN REALITY: The restructuring of wastewater debt was only a temporary solution to avoid a balloon payment, extending the debt into the future without resolving the underlying financial issues. As indicated in number 8, the restructuring added millions in interest payments and extended our debt.
13. STATEMENT: Fostered Transparency and Citizen Engagement: Through initiatives like the OpenGov Financial Portal and live-streaming town meetings, we built a culture of transparency that put the people of Purcellville first. Unlike Mayor Milan and Council Members Caleb Stought and Kevin Wright, we conducted committee interviews in public—not private meetings.
IN REALITY: Former Mayor Bertaut confirmed on January 8th, 2025, that the “Mayberry” Council members met privately on multiple occasions to discuss the termination of existing Town Manager Rick Bremseth and to interview Fraser for the interim town manager position. This secretive process excluded many Council members and did not allow for citizen engagement, as public comments were not permitted during the announcement at a special called Council meeting. Furthermore, the contract for Kwasi Fraser was not shared with all Council members for review. Recently, former Mayor Stan Milan revealed that the Signal App was used to discuss Town business among a select few Council members, circumventing transparency and avoiding FOIA requests. Mayor Milan’s Council held interviews for committee selections in closed session, preventing candidates from hearing the questions asked of those interviewed first. This is a standard practice in most municipalities. Unlike Mayor Bertaut, all Council members attended and were given equal opportunities to ask questions.
14. STATEMENT: Record-Breaking Cash Reserves: We grew the town’s cash reserves to unprecedented levels, securing optimal interest rates for the future.
IN REALITY: Purcellville benefited from local restaurants contributing over $3 million in meals tax revenue to the General Fund Reserves, despite one of Fraser’s initial campaign promises to eliminate the meals tax. Additionally, Mayfair contributed over $12 million in water and sewer availabilities as utility reserves were dwindling. The American Rescue Plan Act (ARPA) provided Purcellville with another $10 million for projects. Unfortunately, during this time, CIP projects were continually delayed, leading to increased costs for mandatory projects.
Concluding Part 3 of our series, we have examined how the narrative surrounding Kwasi Fraser’s achievements may not fully reflect the true financial situation of Purcellville. Although claims of fiscal responsibility and transparency have been promoted, the actual results tell a more intricate story. This analysis is part of an ongoing series aimed at holding local leadership accountable and encouraging informed discussions within the community.
Stay tuned for Part 4, where we conclude this series.
