Pontiac, MI, February 14, 2011 – Oakland County has issued its own Fiscal Scorecard which shows why after a decade of recession Oakland County remains a AAA rated county.
The Business Leaders for Michigan (BLM) recently issued its “Michigan Fiscal Scorecard” for the purpose of “assessing the financial management of Michigan governments.” The BLM report is designed to help residents understand the sobering financial realities facing most Michigan governments. But the BLM scorecard is not accurate when applied to Oakland County.
“Moody’s Investors Service recently said that in their opinion, Oakland County is the best managed county in the nation,” said Oakland County Executive L. Brooks Patterson. “Our Fiscal Scorecard explains why.”
Oakland County’s Fiscal Scorecard outlines the county’s budget, cash balances, reserves, pension obligations and debt levels, all of which are listed as “leading the way.” Among the reasons for this high level of achievement include:
· The county’s on-going commitment to live within its means while maintaining its low tax rate
· The county’s utilization of a first-in-the-nation rolling, 3 year budget that allows early recognition of budget challenges and provides time to thoughtfully restructure operations while maintaining stable service delivery
· The county’s preservation of responsible levels of cash reserves
· The county’s low debt level
· The county’s first-in-the-nation full funding of pension, health care and other post-employment benefit obligations today, within its budget, and not at the expense of future generations
To review Oakland County’s fiscal scorecard, go to Oakland County’s homepage at www.oakgov.com and click on the “Oakland County’s Fiscal Scorecard” button.