Jackson Mayor Chokwe Antar Lumumba Prime issued the following statement.
On
Tuesday, April 7, 2020, Standard & Poor’s Global Ratings
affirmed its ‘A+’ long-term rating of the City of Jackson's general
obligation (GO) debt, during a time when most sectors
of the nation’s economy received a downgrade due to the impact of the
COVID-19 pandemic.
On
March 17th, S&P Global Economics determined that the global and
U.S. economies had fallen into a recession. Shortly thereafter, S&P
Global Ratings placed the entire U.S.
public finance sector on a negative outlook. Despite this, in their
credit rating, S&P deemed that the outlook for the City of Jackson
is stable.
In their report, S&P noted that
"Following multiple years of negative budgetary results, the city
rightsized [its] operations and increased tax rates to stabilize its
fiscal position, driving operating surpluses in fiscal years 2016
through 2018."
The
City's budgetary performance prior to the effects of the COVID-19
pandemic has been strong. Furthermore, S&P's stable outlook reflects
that while the impacts from
the COVID-19 shutdowns will have an impact on the FY2020 budget
performance, they believe that we will be able to weather this storm by
taking the necessary measures to respond to this fluid situation,
coupled with the recent improvements that we have made
in our fund balance and liquidity.
"Today's
news from S&P demonstrates that the difficult choices that my
Administration has made over the past three years have yielded positive
results. Despite the uncertain times that we
face as a City, and globally, planning and effective fiscal management
have prepared us to weather this storm. I would like to applaud my
Director of Administration, LaaWanda Horton and her team for all of
their hard work to help the City achieve this positive
outcome," said Mayor Chokwe Antar Lumumba.
13 comments:
lol right. I guess it’s easy to get surpluses when you’re not spending money to fix anything.
"Following multiple years of negative budgetary results, the city rightsized [its] operations and increased tax rates to stabilize its fiscal position, driving operating surpluses in fiscal years 2016 through 2018."
Antard takes credit for two FYs where he wasn't even Mayor.
Let’s put it this way- Would YOU loan the city of Jackson money?
Anyone know if any of the surplus was used to buy this rating?
Damn Kingfish, printing the good AND the bad. What's wrong with you? Are you trying to be impartial or something? What the hell kind of media is this?
JEEZ.
Reads to me that the administration that righted the ship was Yarber's.
Lumumba's claim to fame is that he hasn't screwed it up, yet.
Of course the bill from the Zoo fiasco hasn't come due and the charges keep racking up daily. Wait until BabyChok figures it out that he can't sell that zoo animal collection for the $6,000,000 he paid for it.
He wasnt in office during that time
Some of you cannot accept that you were wrong and the disaster you predicted isn't happening.
You also keep confusing the son with his father or unfairly judging him on what his father did or didn't do.
Your children will be screwed if they are judged by YOU.
@2:56 PM, wrong about what? Be specific.
I'm laughing at the idea that some of you think Yarber actually fixed anything in Jackson, let alone the budget.
I guess you'll say anything to avoid giving Antar any credit.
Antar 2028 for Governor...
Based on this, Baby Chok should be able to fix all of Jackson's woes - potable water, streets, waste treatment, crime, zoo, criminal justice...
An A+ bond rating for Jackson is great news and is yet another fine accomplishment by our Mayor. You can rest assured that if the bond rating had been poor instead of excellent, all the Jackson haters on here would pin 100% of the blame on the Mayor.
I love Jackson and am ecstatic that we finally have an excellent Mayor.
This proves that Mayor Lumumba is ready for the national stage. Can you imagine the progressive power trio of President Lumumba with a Speaker Ocasio-Cortez and a Senate Majority Leader Booker?
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