King County once again earns AAA bond rating

Number one priority on Executive Triplett's "9 for 9 in 2009" plan achieved

Three major credit rating agencies have awarded a AAA bond rating to King County government based on its 2010 proposed budget, despite the repercussions of a worldwide recession. The agencies cited King County government’s excellent financial management, willingness to make politically tough but necessary budget adjustments, and low to moderate debt levels as key to the county’s continued financially stability and fifth straight year of earning a AAA rating.

Preserving King County’s AAA credit rating and transmitting a balanced budget to the King County council was the top priority for Executive Kurt Triplett’s “9 for 9 in 2009” goals for his tenure in office, all of which he achieved. The AAA credit rating allows the county to borrow money for major projects at a cheaper cost, which saves taxpayer dollars. Read the complete news release...

King County joins with Port of Seattle, Sound Transit and others to preserve 42-mile rail corridor

King County Executive Kurt Triplett and representatives of several local government agencies and private partners have signed an agreement to preserve the Eastside Rail Corridor and place it in public ownership (external link).

Triplett 2010 budget prioritizes public health and safety while cutting jobs and administration costs

King County Executive Kurt Triplett today transmitted a $621 million 2010 General Fund budget that shields criminal justice and public health services from major cuts and slashes administrative costs to address a projected $56.4 million shortfall . The General Fund is $26 million less than 2009 - the second year in a row that the General Fund has decreased from the previous year. Across all county funds, the budget eliminates 367 jobs.

The Executive’s budget aims to preserve all direct core services, however, all major programs (including non-general fund services) will see decreased funding in 2010. Criminal justice services will be least affected, The 2010 proposed budget for criminal justice totals 1 percent less than the 2009 budget. Health and human services will see a combined cut of 37 percent from 2009 as the Executive zeroed out all General Fund support to human services, but replaced support for many services with other funds or innovations. Read more about the 2010 proposed budget...

Related information

• Executive Triplett's budget speech (PDF)
  
• Transmittal letter from Executive Triplett (PDF)
  
• 2010 Executive Proposed Budget details