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Douglas County Commission Chairman Dr. Romona Jackson Jones announces Douglas County has again secured a very strong credit position with a stable outlook from credit rating agency Moody’s Investors Service. Douglas County has received an Aa2 rating position. The key credit factors include a robust financial position, an extremely small debt burden and a mid-ranged pension liability according to the annual 2020 report despite the pandemic. The rating of Aa2 also reflects a very substantial tax base and a healthy wealth and income profile.
Overall, Douglas County has a very healthy economy and tax base, which are in line with its Aa2 rating as cited in the report. During a Finance Committee Meeting on December 15th, Finance Director Jennifer Hallman and County Financial Advisor David Corbin addressed the results of the Moody’s Investors Report. “It should be noted that the overall financial outlook predicated in the rating actions of Moody’s is substantially based on the actions and leadership of the BOC which provided clear fiscal objectives and the ability to execute on a combination of revenue enhancements and expense reduction initiatives throughout the fiscal year,” Corbin said.
Finance Director Jennifer Hallman added remarks on why Douglas County received a positive credit rating as well. “The debt burden still remains relatively small,” Hallman said.
“The digest values in Douglas County are holding well and there’s evidence that corporate businesses are still growing,” Corbin said. “The corporate base is still growing, and the residential side of things is still robust. Housing is still continuing to rise and bode well for Douglas County which is what is reflected in the report,” Corbin said.
“This is good news in light of a pandemic,” Finance Committee Chair Kelly G. Robinson said. “We’re on the right track, despite the economy and COVID-19.” During the meeting that lasted just over an hour, the importance of Douglas County’s BOC during this current term was discussed. “The future of Douglas County will be based on the actions of the existing Douglas
County Board of Commissioners and I believe the BOC is in a good space,” Chairman Jones said.
“The future of the economy is in our hands and we are in a good space where we have some flexibility.” Chairman Jones said. “We’re not losing population.”
The 2020 Annual Moody Investor’s Report will be available for the public to view on celebratedouglascounty.com.