Bossier Parish is on strong financial footing according to an annual report filed by one of the industry’s most trusted reporting agencies, Moody’s Investors Service.
In the report filed Feb. 9, Moody’s analysts called the credit position for Bossier Parish “very good.”
“The rating (Aa3) reflects a robust financial position and a small pension burden with an exceptionally low debt liability. It also includes an ample tax base with a solid socioeconomic profile,” analysts wrote in the report’s credit overview.
Financial position of the parish is “very healthy and is favorable relative to its Aa3 rating,” the report continued. “The cash balance as a percent of revenues (67.7 percent) far surpasses the U.S. median. Moreover, the fund balance as a percent of operating revenues (48.8 percent) is far superior to other Moody’s-related counties nationwide…”
“We are very pleased with what we see in the Moody’s report,” said Bill Altimus, Bossier Parish Administrator. “We are stewards of the taxpayers’ money. This shows we are living within our means and doing good things with the revenue we receive.”
Altimus said the Moody’s report acknowledged Bossier Parish has a healthy economy and tax base. According to the analysts, the $9.5 billion total full value of the parish economy is stronger than the median in the country. The report also shows the median family income in the parish is 102.1 percent of the U.S. level.
According to the report, the positive operating margins “…demonstrate strong financial management. Favorably, on average, Bossier Parish ran surpluses and during this time, the tax base generally grew.”
“Every government body is operating on a tight budget and the police jury is no different,” Altimus said. “But it’s good to have a well-respected report show that the numbers reflect we’re doing a good job with what we have.”
Police Jury President Wanda Bennett said she believes the good report is the result of goals set by the police jury years ago.
“Some years ago the police jury set out to insure we would be in a good position to be financially able to get projects done in a timely fashion,” Bennett said. “I am grateful to the staff and the police jurors for their dedication and hard work. The better we are at doing our jobs means a better quality of life for all the people of Bossier Parish.”