Moody’s Upgrades Montgomery County’s Bond Rating Outlook To ‘Stable’

NORRISTOWN, PA – Moody’s Investor Service upgraded the county’s bond rating outlook from “negative” to “stable” on Monday, according to a press release.

The county is expecting to refund $25.6 million in outstanding bonds in the coming weeks and had its rating “affirmed” to an Aa1 rating, according to the release sent out Monday afternoon.

“With the upgrade, Moody’s is recognizing the remarkable turnaround in the fiscal situation in Montgomery County,” commissioners’ Chairman Josh Shapiro said in the press release.

Read more:

http://www.timesherald.com/general-news/20150317/moodys-upgrades-montgomery-countys-bond-rating-outlook-to-stable

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State College Council To Vote Monday On Budget, Proposed Tax Hike

Counties constituting the Happy Valley Region ...

Counties constituting the Happy Valley Region of Pennsylvania (Photo credit: Wikipedia)

Editor’s note:  The average State College homeowner, with a property value of $200,000, would pay $7 more per month….

State College Borough Council will decide Monday whether to go along with one member’s last-minute push to avoid a tax increase in 2014.

Council is expected to vote Monday on a proposed budget that carries a property tax increase of 1.5 mills. But Councilman Jim Rosenberger suggested last week that he would make a motion instead to put off the increase and dig deeper into reserve funds to balance the spending plan.

Rosenberger said he hadn’t seen enough at a series of budget discussions to be convinced that the borough needs to raises taxes in 2014.

Borough Manager Tom Fountaine said that the budget could be modified to include no tax increase and still be passed Monday. Council wouldn’t have to start the process over or hold additional meetings.

Many School Districts Tapping Reserve Funds To Close Budget Gaps

Governor says schools must spend such money rather than rely on state
 

When budgets are tight, school districts sometimes have to dip into reserve funds to make ends meet.

It’s not something they like to do, but these are desperate times.

“We can’t count on doing this every year,” said Dr. Paul B. Eaken, Fleetwood superintendent.

This is the second year in a row that Fleetwood has relied on its reserves; the district spent $1.4 million to balance the 2011-12 budget.

Read more: http://readingeagle.com/article.aspx?id=389527