Press Club

County Says Finances Strong, Despite Negative Outlook

Arlington County says its finances are strong, despite a decision by Moody’s Investors Service to continue assigning a “negative” outlook to the county’s debt.

Arlington maintained its prime Aaa investment rating from Moody’s, but the firm argued that the county’s close connection with the federal government makes the future of its finances a bit uncertain.

“Today’s actions are based on an expanded evaluation of the exposure each municipality has to the U.S. government, including economic sensitivity to federal spending reductions, dependence on federal transfers and exposure to capital markets disruptions,” Moody’s Managing Director Naomi Richman said in a press release. “Issuers with outlooks that remain negative are viewed as having greater exposure to potential cuts in federal employment and federal spending.”

Arlington isn’t the only Northern Virginia locale to receive a negative outlook. Alexandria, as well as Fairfax, Prince William and Loudoun counties, have all been given negative outlooks due to the area’s “linkage with the U.S. government.”

“Arlington remains in a strong financial and economic position,” County Board Vice Chair Mary Hynes said in a statement, in response to the Moody’s decision. “During the bottom of the economic downturn, the County demonstrated its resilience and diversity. Our key economic indicators outperformed most in the region and the nation. Most recently, despite the threat of federal government budget reductions, private sector investment in the County has increased and housing values have remained stable.”

Hynes noted that the county maintains a sizable reserve fund as part of its budget.

“Even in the most difficult times, Arlington has remained committed to funding our reserves, including action this month to increase the County’s operating reserve to 5 percent of our budget,” she said.

The county is expected to brush up against one of its self-imposed debt limits in financial year 2013. Still, officials say they’re following the bond market closely.

“The County is not currently in the market with any bond issues and has no plans to go to market until mid-2012,” Arlington said in a press release. “The County last sold bonds in June 2011, with very favorable interest rates and market reception.  Any downgrade of the County’s credit rating could result in higher interest rates on future bond issues. The County and its financial advisors are monitoring the situation and market reaction closely.”

Recent Stories

Our two-day stormy stretch is expected to carry on into Sunday, so make sure you take advantage of any sunny and dry periods as we head into the weekend. The…

Navigate the complex world of wine from the team at Arrowine & Cheese in the new The Nose That Knows column.

Inova is setting up a day-long community blood drive in Courthouse on Monday The healthcare company’s blood donation arm is again partnering with Fire Works American Pizzeria and Bar for…

A 3 BD/2 BA updated home with a new roof, refinished hardwood floors and private parking space is included in Open Houses.

“Probing the highly imaginative, inspired mind of Teresa Oaxaca is not altogether unlike having a present-day conversation with an Old Master,” says Nashville Arts Magazine.

Here is an unusual opportunity to learn from this incredibly talented and accessible artist, at Art House 7’s two-day oil painting workshop in October. Teresa will give 2 portrait painting demonstrations for 3 hours each morning. Students will then be painting from a clothed live model. Teresa will offer individual critiques that focus on materials, techniques, process and artistic vision. You’ll get jazzed up about painting and become more confident about your abilities.

Art House 7, Two-Day Oil Painting Workshop with Teresa Oaxaca. Saturday, October 22 and Sunday, October 23, 10 a.m.-4 p.m. EDT $250.

See more about Teresa Oaxaca here. Art House 7 5537 Langston Blvd., Arlington, Va. 22207

Submit your own Community Post here.

Validating one’s emotions has the power to heal, transform, and empower. What Is Validation? Every human being has feelings. We all have emotions that change over time, sometimes quickly, sometimes slowly. The question isn’t whether we feel; it’s how we handle feelings once they arise.

Building strategies to understand emotions is essential to positive mental health, and validation is one effective skill to practice.

Emotional validation is the process of understanding, embracing, and actively listening to another person’s feelings (or your own).

Understanding someone’s emotions doesn’t necessarily mean you approve of how they are feeling or reacting to something. You can be supportive in acknowledging and validating an emotional experience without agreeing or diminishing it. Validation is a skill to learn and improve over time. It may take practice, but the effort is most certainly worth it. Emotional validation has the power to enhance interpersonal communication and foster strong relationships.

Read More

Submit your own Community Post here.

ACFCU’s Homebuying Happy Hour

Are you ready to buy your first home, but concerned about saving for a down payment? Grab a drink and join us for 45 minutes to learn more about how you can buy your first house with 3%, 5%, or

Azure Dream Day Spa Grand Opening

Azure Dream Day Spa is hosting their Grand Opening Celebration at their beautiful new spa located at 901 N. Quincy St. on Friday, August 12 from 5-9 p.m.

All are invited to come tour the new spa and to take

×

Subscribe to our mailing list