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.”
Arlington County’s Dept. of Parks and Recreation says it has a surfeit of programs for teens — but not enough teens to fill them. Between July 2021 and June 2022,…
The Old Bike Shop closed earlier this year in Lyon Park, after a decade in business, but a new bike shop is moving in. Vélocity Bicycle Cooperative, based at 2111…
The local small business Red Bean Harvest that imports authentic Colombian coffee is highlighted in Small Business Focus.
A nearly decade-old 5K race through Fairlington supporting a local girl with a rare disease is canceled, possibly indefinitely. Since 2014, hundreds of Arlingtonians and visitors have participated in the…
EDBS Dental Billing Solutions is pleased to announce that it has achieved compliance with the federally mandated standards of the Health Insurance Portability and Accountability Act (HIPAA) through the use of Compliancy Group’s proprietary HIPAA methodology, The Guard® compliance tracking software, and HIPAA Seal of Compliance®.
The HIPAA Seal of Compliance is issued to organizations that have implemented an effective HIPAA compliance program through the use of The Guard, Compliancy Group’s proprietary compliance tracking solution.
Clients and patients are becoming more aware of the requirements of HIPAA compliance and how the regulation protects their personal information. Forward-thinking providers like EDBS Dental Billing Solutions choose the HIPAA Seal of Compliance to differentiate their services.
“Since the nature of our business being exclusively remote, we take HIPAA compliance very seriously. With the help of Compliancy Group, we are able to take steps to fortify our systems to protect PHI information and familiarize each employee about HIPAA and how we can further safeguard PHI data.” said EDBS Dental Billing Solutions founder Goldie De Leon.
Are you feeling overwhelmed or struggling to cope with life’s challenges? You’re not alone. Mental health issues are more common than you might think, and seeking help is a sign of strength, not weakness.
Our counseling service provides a safe, supportive environment where you can explore your feelings, identify negative thought patterns, and learn coping skills to manage your symptoms. Lauren is trained in evidence-based practices and specializes in a range of mental health concerns, including anxiety, depression, trauma, and addiction.
We understand that seeking counseling can be intimidating, but we believe that everyone deserves to live a fulfilling, happy life. Our approach is non-judgmental and compassionate, and we work collaboratively with you to develop a personalized treatment plan that meets your unique needs and goals.
We offer a free 15-minute consultation to see if our service is a good fit for you. Reach out at https://peacefulmindsolutions.com or call (703) 994-0300 to set up a consultation.
Singin’ in the Rain
The “Greatest Movie Musical of All Time” is faithfully and lovingly adapted for the stage by Broadway legends, Betty Comden and Adolph Green, from their original award-winning screenplay. Each unforgettable scene, song and dance is accounted for, including the show-stopping
5 Tips for Buying Your Dream Home – A Free…
Are you planning to move in the next 12 months but feeling overwhelmed by the current real estate market’s low inventory and high mortgage rates? Join us for a short seminar where we’ll provide 5 tips to help you find