In a report by the consulting firm of Davenport and Company to the work session of the Falls Church City Council Tuesday, the City of Falls Church is ranked at the top of a number of statewide and national lists, over and above its AAA bond rating from a leading New York firm.

The City is tied for first place among the 147 local government divisions in Virginia in the state’s Composite Index, a composite of true value of real property, adjusted gross income and taxable retail sales. It is ranked first in the entire U.S. for percentage of residents with a college degree, and with 41 percent of the population having advanced college degrees, it has the second highest proportion in the U.S. after Los Alamos, New Mexico (where they specialize in rocket science).

The City’s debt exposure and debt service standings are also very strong, they noted, justifying its strong bond ratings in Wall Street.