County Departments Plead for Funding
Moody's backtracks and reissues 'negative' outlook on county's bond rating; incoming board may be legally unable to revisit 2012 budget.
The heads of Montgomery County's various departments queued up Tuesday before the county's Board of Commissioners to plead their respective budget cases as the county works to close a $44 million budget shortfall. The discussions took place as the county learned that Moody's Investor Service erred last week in calling the outlook on the county's Aaa bond rating "stable." Moody's retains a "negative" outlook for the county's ability to maintain its top-shelf creditworthiness. The pressure on the current board was ratcheted up further by county solicitor James Maza, who said state law may prevent the incoming Board of Commissioners from revisiting the budget in January, even if it wants to. Maza presented the commissioners with a written …
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