Montgomery County Council President Roger Berliner says a drop in the Moody's top rating of AAA would put an added burden on government, or trickle down to taxpayer eventually."It will increase our cost of doing business," said Montgomery County Council President Roger Berliner of a potential AAA bond rating drop. "So we'll do less, or we'll ask people to do more."
The additional burden for the counties to meet Maintenance of Effort is going to increase pressure on the local governments - that have to balance their budgets by the end of May. The added pressure has Moody's Investors Service considering a downgrade for individual county credit ratings. Since the legislature failed to agree on a House/Senate budget resolution - it triggered a so-called "Doomsday Budget" that cuts state spending by $512 million.
For Wicomico County - it could spell financial disaster as it tries to fill a 14 million dollar budget hole to fund the BOE maintenance of effort. If that is the case - it could ultimately effect the ability for Wicomico to receive an acceptable bond rating.
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4 comments:
Shame on Norm Conway and Rudy Cane. What have they done to us here in Wicomico County--just make our lives worst. They have to go.
Response to 7:48
I agree with your assessment. Conway and Cane, both, have been 'lapping at the government trough'far to long. They need to be removed and the sooner the better.
Norman Conway and Rudy Cane are receiving compensation for their previous employment with the BOE. It clearly is a conflict of interest and the taxpayers need to response accordingly.
Yep - I agree, Wicomico officials were set-up for this scenario.
Conway and Caine are no friends to the people of Delmarva. In fact, I would go so far as to say they are your enemy.
I do not know how either one of them got elected. Are the people of Wicomico so stupid as to not recognise their demise with these two characters?
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