BOARD OF COMMISSIONERS MARY ANN BORGESON, CHAIR MICHAEL BOYLE P.J. MORGAN MARC KRAFT CLARE DUDA PAM TUSA CHRIS RODGERS Patrick Bloomingdale, Chief Administrative Officer For Immediate Release: November 15, 2013. Contact: Phil Rooney, 402-444-6427 Douglas County Maintains S&P AAA Bond Rating Just call it a “Strong” report. Very strong budget flexibility and performance, strong liquidity, and a very strong debt and contingent liability profile were cited by Standard and Poors Ratings Services in affirming its AAA rating – the highest mark – for Douglas County’s previously rated general obligation bonds. “We believe this affirmation of our AAA rating confirms the financial stability of Douglas County and demonstrates the soundness of the conservative stewardship of taxpayer dollars,” County Board Chair Mary Ann Borgeson said. The report pointed out “strong” management conditions and “standard financial practices and policies” as being positive elements, and recognized Douglas County for a strong institutional framework. “This reaffirmation of our rating demonstrates our commitment to a balanced budget and strong efforts to control spending,” Douglas County Finance Director Joe Lorenz said. In releasing its report, S&P said: “The County indicates general fund reserves will grow by $2 million in fiscal 2013 and the fiscal 2014 budget is break-even.” The report also pointed to a strong and diverse local economy with agribusiness, government, services, and trade, with a tax base that is expected to show continued growth. Nearby Offutt Air Force Base was highlighted as a stabilizing institution that attracts high-technology firms and related industries. “The stable outlook reflects our view of Douglas County’s continued consistent financial performance and economy supported by strong management conditions,” the report said in its outlook statement, adding it does not expect the AAA rating to change during its two-year outlook horizon. (402) 444-7025 Suite LC 2 Civic Center 1819 Farnam Street Omaha, Nebraska 68183-0100 (402) 444-6559 (FAX) co.douglas.ne.us
Posted on: Fri, 15 Nov 2013 23:58:16 +0000
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