CrossRoadsNews, May 7, 2011

Page 1

COMMUNITY

FINANCE

SCENE

More than 400 veterans and members of the armed services got lots of help at Congressman Hank Johnson’s Vet Expo last week. 3

Students at Omnitech Institute on Covington Highway are preparing themselves for careers such as medical assistants and information technology. 6

The life story of Tupac’s mother will be on stage starting May 13 when “Afeni Shakur: In Her Defense – A Short Play & Gallery Exhibit” opens. 10

Assistance for veterans

Copyright © 2011 CrossRoadsNews, Inc.

Hands-on training

May 7, 2011

Shakur trial revisited

Volume 17, Number 1

www.crossroadsnews.com

DeKalb standouts drafted for NFL teams DeKalb’s credit rating facing more downgrades By Carla Parker

son High in 2005, was the first to hear his name called when Buffalo selected him as its Three former DeKalb Schools 68th overall pick in the third round. football players, who excelled durHe graduated from Louisiana State Uniing their high school and college versity in December, finishing his career with careers, saw their NFL dreams come 30 starts in three years at inside linebacker true last weekend when they were and finishing ninth in school history with drafted by two teams. 311 career tackles. Da’Norris Searcy, a former Da’Norris Searcy Dwayne Harris He was named All-Southeastern ConferKelvin Sheppard Towers Titans running back and deence in 2010. fensive back, and Kelvin Sheppard, a former place April 28-30 in New York. Sheppard collected 102 tackles and 10 Stephenson Jaguars linebacker, were drafted Searcy is the first Towers player ever sacks as he helped lead the 2005 Stephenson by the Buffalo Bills. drafted by the NFL. Sheppard will join four Jaguars to a 12-2 record and an appearance Dwayne Harris, a former Tucker Tigers Stephenson alums who are already in the wide receiver, was the Dallas Cowboys’ No. NFL. 176 pick during the 2011 NFL Draft that took Sheppard, who graduated from Stephen- Please see NFL, page 12

Good Times at Stonecrest carnival

Jennifer Ffrench Parker / CrossRoadsNews

Youngsters and the young at heart can enjoy carnival rides, attractions, food and games on the last weekend of the Spring Fair at Stonecrest in Lithonia. Operating hours are 11 a.m. to midnight on May 7 and noon to midnight May 8. For more information, visit www.mallatstonecrest.com.

Jennifer Ffrench Parker / CrossRoad-

Curtis Parker / CrossRoadsNews

Curtis Parker / CrossRoadsNews

By Carla Parker

DeKalb County is facing another downgrade in its credit rating in the near future if it doesn’t put its financial house in order. Moody’s Investors Service, which rates the creditworthiness of counties and municipalities, said this week that it has placed the county under review for possible downgrade of its Aa3 rating. The May 3 warning comes because of the county’s $415 million of outstanding general obligation, unlimited tax-backed and parity debt issued through various public authorities, and its A1 rating on $18.9 million of appropriation-backed debt. The New York-based company said that the review was triggered by the county’s strained liquidity position and concerns over its ability to achieve structural improvement this fiscal year and in future years. It also credits the impact of “a larger-than-expected tax base decline on county operations.” The day before Moody’s released the notice, CEO Burrell Ellis said at a press briefing that the county Burrell Ellis will experience a $25 million shortfall in its budget because of declining property values. He said the decline in assessed property values will be closer to 10 percent, and not the 4 percent on which the county’s 2011 budget is based. The DeKalb Board of Commissioners approved a $530 million budget with $33 million in cuts and no property tax increase on Feb. 22. Ellis had proposed a $563.3 million budget with a 2.32 millage rate increase. In the wake of the board’s approval, Standard & Poor’s, citing the county’s “deteriorating finances,” downgraded the county’s rating to BBB from AA and subsequently withdrew the rating. Ellis said that increasing costs and decreasing revenues have created a cash flow problem for the county. “This can be corrected, if we take the appropriate, swift action,” he said. “If we do that, I believe both agencies will restore our credit rating.” Moody’s review will focus on the county’s efforts to restore structural stability, including the possible adoption of a new Please see CREDIT, page 2


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