NC
Strategic Scorecard |
8.3.2 Local
Government Stewardship |
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Target: Less
than 90% of US average per capita local government
debt
Actual: 74%
of US average
US
Rank 2002: 23rd (up
from 32nd in 1994)
SE
Rank 2002: 3rd (up
from 8th in 1994)
SE
Region: AL
FL GA KY MS NC SC TN VA WV Updated
4/17/06
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| Primary
Performance Indicator |
Per Capita Local Government
Debt
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Performance
Trend:
The
trend depicts the degree to which actual
performance has approached the target in
recent years. |
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Comments
• |
NC’s
aggregate per capita local government debt has remained
relatively stable over the past decade, but it has
dropped relative to the national average.
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As of
2002, NC had the 23rd lowest per capita local government
debt in the nation and the 3rd lowest in the Southeast.
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Definition
(What Is Being Measured)
Total
local government debt, including short-term,
long-term, full faith and credit, nonguaranteed
and public debt for private purposes, divided
by total population.
Source: US
Census Bureau, State and Local Government Finances; rankings
from Morgan Quitno |
Relevance
(Why This Is Important)
Total
per capita local government debt, coupled with nationally-recognized
credit ratings, provide an important gauge of local government
financial condition. |
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| Other
Highlights |
| North
Carolina |
• |
NC’s
largest local governments continue to earn favorable debt
ratings from the major rating agencies. Many of the state’s
largest cities (i.e., Charlotte, Raleigh, Durham and Winston-Salem)
and counties (i.e., Wake County) enjoy the highest bond
ratings with all three rating agencies. |
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The
City of Greensboro, like the state government, earned an
AAA rating from Standard & Poors and Fitch and an AA-1
with positive outlook from Moody’s. NC’s local
governments also enjoy a good reputation for financial
reporting. |
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In
2004, for example, 87% of NC’s large counties and
88% of NC’s large cities earned the Government
Finance Officers Association’s Certificate of Achievement
for Excellence in Financial Reporting (Source: GFOA). |
| Southeast
Region |
| National |
| Global |
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Goal
8.3:
Ensure
Fiscally Prudent Government |
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