Archive for January, 2014

Moody’s Revises Rating Criteria for Local Governments

On January 15 of this year, Moody’s announced a revised methodology for its evaluation of local government general obligation credits. Moody’s overall methodology is to evaluate each locality seeking/maintaining a rating over four categories: (1) economy/tax base of the area, (2) finances of the locality (fund balance), (3) management of the locality and (4) debt/pensions. […]

 

Caution: Payments to Volunteers Can Lead to Trouble

Nonprofit organizations and governmental entities are permitted to use volunteer labor.  In many instances, the work performed mirrors that performed by paid staff.  Employers may want to recognize the time and efforts of the volunteers through cash payments.  There is much danger in providing such financial rewards in that you may convert the volunteer into […]

 

Virginia Supreme Court Opinions Affecting Local Government Law January 10, 2014

The Virginia Supreme Court issued new opinions this morning, some of which affect local government law.  Here they are (summaries taken from the Virginia Supreme Court website, click on the Record Number to read opinion): 130210 Board of Supervisors v. Windmill Meadows, LLC 01/10/2014 In interpreting provisions relating to per-unit cash proffers in certain zoning proceedings […]