The Wood County Commissioners have announced that Moody's Investor Services has affirmed the county's Aa3 bond rating.  The county has maintained an Aa3 bond rating from Moody’s since 1998.

It is the second highest bond rating of any county in Ohio.

In July, Moody’s contacted county officials as the ratings firm began to evaluate local governments - particularly those that might be adversely affected by the swings in the auto industry - to determine how they are weathering the recession.

Quoting the firm’s report, commissioner James Carter said: "The Aa3 rating reflects the county's moderately-sized tax base that is expected to remain stable; satisfactory financial operations; and minimal debt profile."  Further, "Moody's expects the county's financial position will remain satisfactory given the county's conservative budgeting practices and stable reserve levels.”

The report noted that the Chrysler Machining Plant in Perrysburg Township, which employs approximately 800 people, is part of the new Chrysler emerging from bankruptcy, and is therefore not slated to close in 2010.

In addition, while there have been job losses in the county, economic development activity is occurring including the opening of the new Fed Ex hub, the development of the CSX Interposal facility in North Baltimore, and the further expansion of First Solar, said commissioner Tim Brown.

County Auditor Mike Submerse said the county faces revenue challenges, including “…sales tax revenues that are down approximately $700,000, when compared to this point last year.  Investment income for the county is down about $790,000 compared to year-to date receipts in 2008, and that equals approximately 27 percent.  Although the real property tax base has remained largely stable, the tangible personal property base was removed by state tax restructuring in 2005 and replaced temporarily by reimbursement.  Final full-year payment for this is 2010, after which it will decline until expiring in 2018.  This means $675,000 to the county's general fund."

Gardner on funding panel
State Representative Randy Gardner (R-Bowling Green), a former high school teacher, has been appointed to serve as one of only two House members on the Ohio School Funding Advisory Council, which will recommend changes to the state’s school funding system over the next 10 years.  

The council will include Gov. Ted Strickland, State Superintendent of Schools Deborah Delouse and Chancellor Eric Fingerhut of the Ohio Board of Regents in addition to school teachers, administrators, parents and members of the business community.
   

Named to task force
A task force assigned the responsibility of reviewing the operations of the Ohio State Highway Patrol is taking shape.

Gov. Ted Strickland last week appointed two members to the panel: Peter Tobin, Columbus, has served as the superintendent of the Ohio Bureau of Criminal Identification and Investigation since January of this year and was police chief of London, Ohio since 2006.

Thomas Charles, Columbus, has served as the Ohio Inspector General since 1998.

Armond Budish, Speaker of the Ohio House of Representatives, has appointed the members from the House: Connie Pillich, D- 28th district; Mark Schneider, D-63rrd district, and William Batchelder, R-69th district.

Senate President Bill Harris has appointed the senate’s members: Steve Buehrer, R-1st district; Thomas Patton, R-24th district, and Jason Wilson, D- 30th district.

Sen. Harris has also appointed Larry Davis, president of the Ohio Trucking Association, to the task force.

The Buckeye State Sheriff’s Association, Ohio Fraternal Order of Police, Ohio Association of Chiefs of Police, and Ohio State Troopers Association are also to have representatives on the task force, which will include the director of public safety.

Sen. Buehrer inserted a provision in the state’s transportation budget bill to establish a State Highway Patrol Mission Review Task Force.

The unpaid members of the panel are to review the “operations and functions” of the highway patrol as they “relate to all other police entities in this state,” the bill says, with the goal of identifying where there is overlap of services.

The task force is to have a written report completed within a year.

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