Monmouth County Debt Rated AAA for the 16th consecutive year

Freehoder Deputy Director Gary Rich, left and Freeholder Director Lillian Burry

Freeholder Deputy Director Gary Rich and Freeholder Director Lillian Burry at the Italian American Festival in Ocean Township last week.

Monmouth County has received a new AAA bond rating from all three major rating agencies for the 16th consecutive year, according to a statement by the Monmouth County Board of Freeholders.

“This is the 16th straight year the County has been awarded AAA status from Fitch, Moody’s and Standard and Poor’s,” said Freeholder Deputy Director Gary J. Rich, Sr., liaison to the County’s Finance Department. “Monmouth County continues to be top-rated in how it manages taxpayer money.”

The three rating agencies rated the upcoming Monmouth County Improvement Authority’s (MCIA) governmental refunding bond series and reaffirmed the ratings of the County’s outstanding debt.

“Monmouth County continues its demonstration of sound, fiscal management. The County has been careful in its spending and continues to maintain low debt levels,” said Freeholder Director Lillian G. Burry. “As a result, we are able to have greater flexibility in delivering quality services to our residents. It shows how well the County is managing its resources and planning for the future.”

Monmouth County is the only county in New Jersey and one of less than three dozen counties in the nation that can claim to have received the highest score from all three rating agencies.  The AAA rating is higher than that of the State of New Jersey and the United States of America.

“More than anything else, retaining AAA status has a direct and positive impact on residents in all 53 municipalities,” said Freeholder Serena DiMaso, liaison to the MCIA. “Funds borrowed through the MCIA carry a much lower interest rate due to the AAA rating. Many towns purchase such things as police cruisers and fire trucks through the MCIA, and the tax savings are felt immediately.”

Posted: August 15th, 2014 | Author: | Filed under: Gary Rich, Lillian Burry, Monmouth County, Serena DiMaso | Tags: , , , , , , , , , , | 24 Comments »

24 Comments on “Monmouth County Debt Rated AAA for the 16th consecutive year”

  1. Sancho Panza said at 6:05 pm on August 15th, 2014:

    Sure explains all those rumbles and potholes on county roads.

  2. DEM said at 8:20 pm on August 15th, 2014:

    What a joke.

  3. Jim Granelli said at 9:56 pm on August 15th, 2014:

    What’s a joke Dem, that Republicans have kept taxes basically flat and a AAA bond rating?

    It sounds more like a nightmare for the little known County Democrat candidates.

  4. DEM said at 9:11 am on August 16th, 2014:

    @JIM Who’s Garry Rich talk about little known.My county taxes are high,So all you Republicans continued to be so cocky. w

  5. Jim Granelli said at 1:58 pm on August 16th, 2014:

    @ Dem, I’m sorry; I could not understand what you wrote; especially the first part.

    That said, any Politician, D or R that told me they would reduce my taxes in this economic climate; I would personally tar and feather that person because it just ain’t possible. If the economy was cooking along better, actually roaring along; that might be possible, and I emphasize might.

    That said, you’re not satisfied that the county taxes have remained stable, and does anyone think a Democrat wouldn’t RAISE taxes?

    Back to that “ain’t possible” thing. What with the ever rising cost of health care and wages, despite the promise to “reduce your health care by $2500″ there is an ever increasing upward pressure on costs. So, to keep them flat is a miracle; or; would you rather cut services even more?

    Can’t have it both ways Dem.

    Have a nice day :)

  6. DEm said at 3:58 pm on August 16th, 2014:

    @JIM Having one County Counsel’.2 in house counsel and 32 special counsels and 6 of them are out of Monmouth county.This is wasteful spending.No planning most of the offices are half full.

  7. Lack of Intel said at 9:35 am on August 17th, 2014:

    makes for the typical “low- info” Dem voter..the 2 in-house counsels make over $100.x hr. less than a lawyer in the private sector, have saved the county thousands, in law compliance checks, labor negotiation fees, etc..Just because they appoint a slew of lawyers does not mean they get any work- most don’t, just ask them! And, if you can’t distinguish where the majority of your tax dollars go, that would be to the black hole of local fiefdoms, and local school property taxes, then, well, that kind of explains the typical Dem brain, or lack thereof…

  8. DEM said at 11:40 am on August 17th, 2014:

    Take a look at your taxes bill I do and we pay a lot in county taxes. Now we don’t need two people doing the same job as lawyers. On the special counsels ten of them are Attorneys in Republican towns same more then one town’ One is a Assemblyman.All of them are making money off of the Tax dollars and all of them gave $$$$$ to the Republican party. So there NO saving on my money here.

  9. @ Lack Of Intel said at 1:44 pm on August 17th, 2014:

    Facts don’t matter to Democrats at large, only the seriousness of the charge.

    For example, the fact that our county taxes have remained level doesn’t matter. But I am confused, I thought Democrats were FOR higher taxes.

  10. DEM said at 3:38 pm on August 17th, 2014:

    You should look at the facts Middletown, Howell,Rumson,Wall,and monmouth h county All have high taxes.Look to me the Republicans are for higher taxes and getting more then one pay check on the taxpayers back.

  11. Jim Granelli said at 8:20 pm on August 17th, 2014:

    Hell, I got high taxes in Neptune, and that’s been a Democrat town for years. Most of that can be traced to pension and benefit issues, which are a Dem forte for high taxes.

    That aside, Dem, we are talking about COUNTY issues on this post.

  12. DEM said at 8:46 pm on August 17th, 2014:

    So am I. Gee though all Republicans hate people getting 2 or 3 pay checks on taxpayers money or is just Democrats doing you hate?

  13. Name (required) said at 9:04 pm on August 17th, 2014:

    @Jim great job you are doing for your party in Neptune that’s way they can not win.Hahaha

  14. @ Name (required) said at 8:17 am on August 18th, 2014:

    First of all, that you post anonymously, shows that you are a coward making such a personal attack.

    Second, almost everyone knows that I have retired from local politics. Haven’t had a hand in an election for some 3 years, now.

    You could verify that fact with many people.

    @ Dem, I only despise cowards that post anonymously. Nor do I care or believe anything they say.

    Jim Granelli

  15. High Tax Man said at 10:30 am on August 18th, 2014:

    The concept of “high taxes” in Middletown, Howell, etc should be viewed in perspective.

    For comparison, NJ Property Tax records show Granelli’s tax information in Neptune as:
    Acreage 0.2296
    Prior Year’s Taxes $6,884.60
    Prior Year’s Net Value 249,900

    For comparison, here is Howell’s Bob Walsh:
    Acreage 0.69
    Prior Year’s Taxes $15,944.04
    Prior Year’s Net Value 599,400

    So for about 3x the acreage and more than double the value, Bob is paying about the same tax rate in a nice, quiet, low crime Republican town with a great school system than Granelli is paying in a busy, high traffic, high crime Democrat town with a low performance school system.

    As another comparison, if I have the right address, then here is Middletown’s Anthony Fiore:
    Acreage 0.6887
    Prior Year’s Taxes $13,205.94
    Prior Year’s Net Value 583,600

    And if I have the right address, here is Asbury Park’s Ed Johnson:
    Acreage 0.0861
    Prior Year’s Taxes $5,317.96
    Prior Year’s Net Value 89,800

    It seems like DEM’s “high tax” claim is just a myth. The total dollars paid in Howell and Middletown might be higher, but the rate is comparable or lower. Those DEM towns are paying very high rates for very small property not to mention that the services, namely school and police services, in Howell and Middletown are far better, based on statewide standard testing as well as college application and acceptance rates, than those available in Neptune or Asbury Park and these numbers are before you take into account that Neptune and Asbury are getting a disproportionately high amounts of state funding for those failing schools and police departments, ie Middletown and Howell and paying for their own great schools and chipping in for Neptune/Asbury.

  16. @ High Tax Man said at 11:56 am on August 18th, 2014:

    Thank you for that comparison.

    I do want to correct one thing, but then add more info to deflate DEM’s myth.

    As to Neptune being a poor performing school system, those that want to do well, have an abundance of opportunities and do very well on scholarships. As always, the demographics of one parent families and parents that do no want to make Johnny do their homework impacts the situation especially.

    The High School itself is a high expectations school due to the leadership team there, as well as the staff. SAT scores have RISEN about 15% a year for the past 3 years. The performance of Neptune schools today is much better than the days of old.

    That said, Neptune’s school tax rate has also been historically low due to good fiscal oversight, ESPECIALLY because of a non partisan fiscally conservative board made up of Democrats, Republicans & Independents from about 2009 to 2012. They operated transparently and with high ethics for the benefit of the community.

    The school system ended up debt free, and school taxes remained flat. BETTER yet, Neptune’s school taxes were around 57% of the total tax bill, which averages about 62% in N.J.

    HOWEVER, the Board has recently been taken over by a bunch of Democrats, politically connected people, intent on rewarding people who got them there. Dare I say crony politics at work?

    As a matter of fact, one of the leaders of the group is quoted as saying “Let’s connect politics to education,” where Boards of education are to to be non partisan.

    As a matter of fact, sitting elected Democrat officials did a robo call for those candidates, one even invoking the name of Obama. This has even divided the Democrat party in town because well intentioned Democrats are upset with the direction this Board is going in.

    Now let’s just see what those Democrats have done since taking over:

    1) Replaced ONE lawyer with FIVE LAWYERS.

    Ah, wasn’t DEM complaining about an over abundance of lawyers? The “emperor has no clothes with that argument.”

    2) Replaced the best and most cost effective health insurance group with a politically connected group which has little experience. And trust me, they are politically connected.

    3) Replaced the long time Board Engineer with someone who seems to have little experience.

    AND MORE.

    This year they also raised taxes.

    So, let’s just see how long Neptune stays below the average percentage of school taxes to total tax bills with this current crop of Democrats on the school board mixing up politics with education.

    Jim Granelli

  17. DEM said at 4:56 pm on August 18th, 2014:

    @JIM what does all this have to do with all32 Special counsel ten of them are Attorneys in Republicans towns most of them are getting 2 or 3 pay checks from taxpayers one is a Assemblyman and bd getting two more checks from towns. Gruss all this is ok with you Republicans.Love to see what you would say if Democrats were doing this?

  18. @ DEM said at 5:22 pm on August 18th, 2014:

    It shows what a phoney argument you have about the county having multiple lawyers because the Democrats do it as well.

    And High Tax Man destroyed the rest of your argument. Democrats are the purveyors of high taxes.

    And finally, I don’t care what you think because you cowardly stay anonymous.

    TTFN

    Jim Granelli

  19. DEM said at 5:42 pm on August 18th, 2014:

    @JIM your just a phony And I gruss all the Republicans who post anonymously are coward also or is it just Democrats you phony. i’m done wasting my time with phony like you.

  20. Jim Giannell said at 5:47 pm on August 18th, 2014:

    These ratings mean that we are effectively tied for #1 as the best managed County in the country. Dems can nit pick and cry all they want but that’s the bottom line.
    By the way, to Jim Granelli: keep up the good work !

  21. @ DEM said at 7:13 pm on August 18th, 2014:

    What a coward, running away like a sissy girl. At every turn, I defeat your comments. That’s why you are running. It’s no fun anymore for you.

    You see, the problem is that you make personal attacks against me anonymously, and I would call out a Republican that did so to me. But none have made those kinds of attacks here, so there is nothing to comment on since none of them were pointed at me. No vested interest so to speak.

    If you said it “to my face,” so to speak, I would think a little more of you as someone with a backbone, but then; I would still successfully defeat your arguments because most of the time, the facts are on our side.

    Here’s what says it all about you DEM.

    https://www.facebook.com/jonstevensofficial/photos/a.10151760715379845.1073741824.236085214844/10152556887009845/?type=1&theater

    I don’t take it personally, but I call a spade a spade and confront it like it needs to. Sooner or later they run away crying like you do because you have no facts to stand on.

    Jim Granelli.

    P.S. To The Other Jim G.

    Blushingly, Thank You:) For what, I don’t know. You’re the big cheese.

  22. Taxman said at 9:06 pm on August 18th, 2014:

    County taxes are what they are because they jumped in 2009, the one year that the Dems controlled the board. They’ve been pretty much unchanged for the past 5 years that the Reps regained control

  23. trouble in marlboro said at 8:38 am on August 21st, 2014:

    the dems. please its all about feeding their lawyer buddies, look at marlboro. since johnny and his law firm took control of the town, we went from 2 law firms under klienburg, to 14. klienburg left 10 million in surplus johnny spent it all and took over the water auth. and spent all that as well. he has gone thought 26 million since taking office and borrowed another 30. he spends 1,000,000 a year on lawyers, but manalpan, run by repubs, spent 250,00, and are basically the same town. since johnny and his law partner have taken over marlboro, the town the year before was ranked 10th best place in the whole u.s.a., but now 10 short years later we are ranked 147th in just the state of new jersey. all you have to do is look at the dem states ct, nj, ny, ca, ma, etc. all about to go bankrupt, then look at repub states, tx,in,ok all in the black. so come on how can any one still defend the dems? just look at the golfer in chief, what a joke.

  24. @ Poor DEM said at 12:11 pm on August 21st, 2014:

    you just keep losing and losing your argument about lawyers.

    BAWAHAHAHAHAHA