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In the 2014 State of the County Address, Supervisor Mike Wasserman, who this month took the helm as President of the Board of Supervisors, assured that the County organization is healthy, stable, and effective.
Standard and Poor’s AAA Bond Rating Signals County’s Fiscal Health and Strong Management Wasserman cited the recent action by Standard & Poor’s (S&P) that raised the County’s bond rating to triple A (AAA), the highest possible long term rating, as one example. S&P granted the upgrade noting the County’s strong budget flexibility and performance; and very strong management, financial policies, and consistent ability to maintain a balanced budget. The AAA Rating will mean that when the County has to borrow money, it will be able to do so at favorable interest rates.
Wasserman discussed the need to remain vigilant given that 75 percent of the County’s budget comes with strings attached from the federal and state governments and that in its ongoing review and analysis, County Administration already has projected a preliminary $25 million General Fund deficit for next fiscal year.
Wasserman said that his focus for 2014 will be to:
· Keep our residents safe;
·Deliver services in an efficient and cost-effective manner; and
·Educate the public on the services the County provides.
“The County is working on many fronts to meet the diverse needs of our residents. Whether it is helping kids find a safe way to school, providing shelter for those living on the streets, making sure immunizations are given, answering 9-1-1 calls, inspecting restaurants, making our neighborhoods safe, providing world class healthcare, inspecting gas pumps, operating our jails, or caring for our Seniors and children, County government is protecting our residents, in one way or another, every minute of every day,” stated Wasserman.