LACONIA — Belknap County government has boosted its financial reserves, which Moody’s Investor Services has said it must do in order to upgrade its credit ratings.
Reduced credit ratings can increase the cost of borrowing money. A year ago, Moody’s dropped the rating from Aa2 to A1, citing continued depletion of reserves to fund the county’s operating budget, coupled with an inability to raise sufficient revenues.
Those reserves, known as the county fund balance, stood at about $1.5 million when the rating was reduced and were estimated to be at $3 million by the end of last year, County Administrator Debra Shackett said Friday.
In 2011, the fund balance stood at $8.2 million.
The Belknap County Legislative Delegation has approved a budget of $30,002,772 for 2019, which is lower than the $30,921,397 budget proposed by county commissioners but higher than the 2018 budget of $29,184,941.
Moody’s did not immediately return a call for comment on the potential of increasing the county’s credit rating.
Fireworks parking
People would be charged $10 to park their vehicles at the Endicott Rock parking lot during fireworks shows under an item to be considered by the City Council on Monday night.
The city has two parking kiosks at the beach that people usually use, but those would be turned off for fireworks shows. Signs will be placed on the kiosks saying that cars parked after 8 p.m. would be subject to the fireworks parking fee of $10.
The shows are planned for July 3, July 20, July 27, Aug. 3, Aug. 10, Sept. 1 and Sept. 14.
Weight limits
Seasonal weight limits on Laconia roads ended Friday (April 19), the Public Works Department said.
These limits are put in place to protect roadways when road bases are thawing and wet.
They said it
“There is a method to the madness.” — Public Works Director Wes Anderson on why northbound traffic is being detoured off a section of Union Avenue containing a number of businesses. He said the detour is located well ahead of a road construction area because streets closer to the work area too small to accommodate truck traffic.
“I don’t know why local traffic can’t go in there because there’s no construction there.” — Jean Clox, owner of Art Escape, who said the road closure comes at what is usually the busiest time of the year for her business.
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