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Primarily serving Pataskala and surrounding areas
May 22, 2011
Pataskala receives Aa3 bond rating Council members table ordinance to establish law against scavenging By MICHAEL J. MAURER ThisWeek Community Newspapers The city of Pataskala has received its first regular bond rating from the credit-rating agency, Moody’s. It was awarded the fourth-highest designation of Aa3, the same as the city of Newark, according to finance director Jason Carr at the May 16 council meeting. The Aa3 rating is in the
“Excellent” category, Moody’s secondhighest rating category. “Exceptional” is the highest. “What this means to the city is that the capital improvement plan, the JRS (job-ready site) sites, the potential for growth, the contingency reserve line items in our budget, the positive audits, have culminated in being able to be considered to have a debt rating,” Carr said. “There are only 3,300 cities according
Licking Heights
Forecast raises concerns about staffing
to Moody’s that have a debt rating.” The Aa3 classification is one level below the city of Pickerington. “This is very positive for the city and will give us additional flexibility and an additional financing tool,” Carr said. “There are 14 levels, with Aaa being the best level and B1 being the lowest level. The city’s Aa3 is the fourth level. Newark is Aa3, Pickerington is a Aa2.” Carr said the advantage of a bond rat-
ing is that the city should be able to save money both in interest costs for capital debt and in transaction costs. Without the bond rating, the city has had to spend as much as $20,000 for each debt issue for insurance. “We in the past have had to purchase bond insurance,” Carr said. “That costs maybe $20,000. When we go and issue debt, this provides a tool where we don’t have to purchase bond insurance. We
have a standalone rating.” The city will now be rated on an ongoing basis by Moody’s, which will issue regular forecasts saying the city’s financial outlook is positive, negative or neutral, Carr said. Carr said the rating was as good or better than the city initially expected. “We are at least one step above the See BOND RATING, page A2
BARRELS OF BENEFITS
By MICHAEL J. MAURER ThisWeek Community Newspapers The Licking Heights school board approved the district’s five-year forecast May 17. The forecast projected that the recent passage of an 11.92-mill property tax levy will keep the district in the black through the end of 2013, assuming there are no surprises in the state budget for education funding. Treasurer Jennifer Vanover said the district has frozen staff levels even as student population is growing about 200 students each year. “We did not add any staff this year, as we all know, to make sure the four-year levy lasted four years,” Vanover said. “Despite the additional students, we did not add staff. Even with the levy having passed, there are no staff added next year or the year following. What that translates to is we’re going to see over that three-year period of time close to 600 students or more and no additional staff members.”
Photos by Lorrie Cecil/ThisWeek
(Above) Vicky Christiansen of Newark inserts the overflow tube on her rain barrel during a workshop at the Licking County Soil & Water Conservation District on May 19. (Left) Vince Untied, a summer intern with the soil and water conservation district, helps Claire Robitaille with her barrel. (Below) The workshop included materials and instructions on how to make a 60-gallon rain barrel. Additional workshops will be held June 16 and July 14. The cost is $50.
See LICKING HEIGHTS, page A2
Southwest Licking
Officials: Budget is tight but workable By MICHAEL J. MAURER ThisWeek Community Newspapers The Southwest Licking school board approved its five-year budget forecast May 19, breathing a sigh of relief that it has a cash carryover balance but worried that it is spending more than it is taking in. “The big things are property taxes and personnel,” said treasurer Richard Jones, saying he believed that all future revenue increases were likely to come more from local taxes than state funds. “I don’t see the school foundation changing significantly,” Jones said. “I don’t expect any help from the state. Hopefully, we don’t get any more cuts, but I don’t expect any more help. “Quite frankly, if there is going to be any
Ohio Dominican, COTC offer new degree program By MICHAEL J. MAURER ThisWeek Community Newspapers Adult students in the Pataskala area will have an option to obtain bachelor’s and master’s degrees at the Pataskala campus of the Central Ohio Technical College. Ohio Dominican University spokesman John Palmer said the growth of Licking County and
COTC made the joint Learning Enhanced Adult Degree (LEAD) program attractive to the university. “Licking County is really having a lot of growth,” Palmer said. “We’ve been forming some partnerships with COTC because that institution is just taking off, with their having renovated the facility off Taylor Road.” The programs that will be offered relate to busi-
ness and business management, including a bachelor of science degree in business administration, a master of business administration and a master of science in management. The administrator of the program is Dave Archibald, Ohio Dominican vice president for LEAD. See DEGREE PROGRAM, page A2
See SOUTHWEST LICKING, page A2
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