Monmouth County: A FINANCIAL FORCE MULTIPLIER

By Freeholder Lillian G. Burry

Freeholders Tom Arnone and Lillian Burry complete the purchase of Ft. Monmouth with Noreen Dresser, Chief of Real Estate, U.S. Army Corp of Engineers, NY Distirct

Anyone living in Monmouth County is likely to be aware of the many good things County government provides including our roads, parks and library system.  One of the most important and valuable things the County provides, however, is known to relatively few residents. That’s the role the County plays in enhancing the financial resources of others and it’s a role that’s played quietly, sometimes indirectly, and always with unwavering expertise.

Sometimes it takes the form of a direct payment, providing the County share of the price for preserving farmland that brings far larger amounts of state dollars to a deal. At other times it’s providing a mix of funding and in-kind staff resources as a match for Green Acres dollars used to acquire or develop additional open space or some other worthy grant funded project. And sometimes it’s taking advantage of the AAA bond rating of the County – a rating held by fewer than two dozen of the more than three thousand American counties – to help others borrow money through the Monmouth County Improvement Authority (MCIA) at interest rates that can save significant amounts of dollars in interest payments over the life of a loan.

Read the rest of this entry »

• Tweet

Monmouth County Debt Rated AAA for the 16th consecutive year

Freeholder Deputy Director Gary Rich and Freeholder Director Lillian Burry at the Italian American Festival in Ocean Township last week.

Monmouth County has received a new AAA bond rating from all three major rating agencies for the 16th consecutive year, according to a statement by the Monmouth County Board of Freeholders.

“This is the 16^th straight year the County has been awarded AAA status from Fitch, Moody’s and Standard and Poor’s,” said Freeholder Deputy Director Gary J. Rich, Sr., liaison to the County’s Finance Department. “Monmouth County continues to be top-rated in how it manages taxpayer money.”

The three rating agencies rated the upcoming Monmouth County Improvement Authority’s (MCIA) governmental refunding bond series and reaffirmed the ratings of the County’s outstanding debt.

“Monmouth County continues its demonstration of sound, fiscal management. The County has been careful in its spending and continues to maintain low debt levels,” said Freeholder Director Lillian G. Burry. “As a result, we are able to have greater flexibility in delivering quality services to our residents. It shows how well the County is managing its resources and planning for the future.”

Monmouth County is the only county in New Jersey and one of less than three dozen counties in the nation that can claim to have received the highest score from all three rating agencies.  The AAA rating is higher than that of the State of New Jersey and the United States of America.

Read the rest of this entry »

• Tweet