Fitch Rates Lincoln County, North Carolina $9MM GOs 'AA-'.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 25, 2002 Fitch rates Lincoln County Lincoln County is the name of several locations. Canada
The 'AA-' rating is based on the county's sound financial position, moderate debt levels, and economic growth, spurred by its proximity to the City of Charlotte. It also takes into consideration the county's lack of a capital improvement plan to address its growth related needs. The rating incorporates a one-notch enhancement due to the oversight of the North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. Local Government Commission. Lincoln County is in the western portion of North Carolina, northwest of Mecklenburg County Mecklenburg County is the name of two counties in the United States:
A calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e. increase in 2001. Population in the county has grown at a faster rate than that of the state over the last decade, to an estimated 64,999 people in 2001. School enrollment has grown at the annual average rate of 2.2% over the last six years and is expected to increase at the annual average rate of 2.5% over the next several years. Manufacturing continues to play an important role in the local economy, constituting 31% of the local employment base and 39% of earnings. While several plants have reduced their work force in the last year, others have expanded their operations and added employees. County unemployment rates have increased from 4.1% in 2000 to a high 7.6% in 2001. In September 2002, unemployment was 7.6% in the county compared to state and national levels of 5.8% and 5.6%, respectively The county's financial position is sound. A tax rate increase in fiscal 2002 restored structural balance to general fund operations after a $1.3 million drawdown Drawdown The peak to trough decline during a specific record period of an investment or fund. It is usually quoted as the percentage between the peak to the trough. Notes: in 2001. A $761,000 drawdown in fiscal 2002 was due to the county's forgiveness in August 2001 of $2.96 million loaned to the water and sewer fund. Fiscal 2002 unreserved fund balance equaled $9.2 million, or a sound 15.9% of spending. Adding in the state statute reserve, the balance includes the entire fund balance of $15.6 million, or 27% of spending. For fiscal 2003, the county is expecting that 7 months' worth of revenues from a newly authorized one-half cent local option sales tax In the United States, a Local Option Sales Tax (often abbreviated LOST) is a special-purpose tax implemented and levied at the city or county level. A local option sales tax is often used as a means of raising funds for specific local or area projects, such as improving will compensate for roughly 71% of budgeted withheld state reimbursements. The $484,000 difference will be made up through contingency funds and fund balance. The tax begins on Dec. 1, 2002 and will be an on-going revenue source. Revenues from existing sales taxes sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. for the first quarter of fiscal 2003 are on budget. Debt levels are moderate and amortization is above average. The county currently has no formal capital improvement plan, raising concern about the county's ability to anticipate and efficiently address its capital needs, especially future school capital projects. The county is in the process of creating a five-year plan Five-Year Plan, Soviet economic practice of planning to augment agricultural and industrial output by designated quotas for a limited period of usually five years. . This bond issuance is the third and final installment of $36 million in school bonds authorized in May 2000. The county does not currently have plans for a new general obligation bond referendum. |
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