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Wayne County, Michigan Investor Relations
Mathieu J. Dubé, Interim Chief Financial Officer
About
Learn about Wayne County, Michigan Investor Relations, including Featured News and The Team.
- Population
- 1.76 Million
- Bond Ratings
- Ba1/BBB+/BBB-
Source
- Bonds Outstanding
- $771.602 Million
Source
About Wayne County, Michigan Investor Relations
Wayne County is a public corporation, created under the Constitution and Statues of the State of Michigan, with general governmental powers and authority. Under Act 206 of the Michigan Public Acts of 1893, as amended, the County Treasurer is the officer responsible for collection of delinquent real property taxes which are returned to the County as uncollected on March 1 of each year. The Treasurer is also responsible for the application of the borrowing proceeds and the preservation of the primary and secondary security,
The County is a home rule charter county incorporated under Act 293, Public Acts of Michigan 1967, as amended, and is governed by an elected Chief Executive Officer, who is elected on an at-large basis for a 4-year term, and a 15 member County Commission elected for 2-year terms from districts of approximately equal population.
The County is the most populous county in the State of Michigan with a population of 1,829,582 according to the 2010 US Census. The County is located in the southeaster corner of Michigan's Lower Peninsula, encompassing approximately 623 square miles, with its southeastern boundary being the shoreline of portions of Lake St. Claire and the Detroit River. The County is made up of 9 townships, 34 cities and 34 public school districts.
Featured News
November 18, 2019
Press Release
Announcement Regarding a Regional Initiative
MEDIA ADVISORY
FOR PLANNING PURPOSES ONLY
November 18, 2019
Announcement Regarding a Regional Initiative
**WHAT: **Regional leaders and representatives from the Michigan Legislature will discuss legislation that will affect a new regional initiative for Southeast Michigan.
WHERE: Beaumont, Royal Oak
South Tower
Heart Center Conference Room
3601 West 13 Mile Rd.
Royal Oak, MI 48073
Free parking is available in the South Deck. Please enter the building through the South Entrance.
WHEN: 10:00 AM Monday, November 18, 2018
**WHO: **Warren C. Evans, Wayne County Executive
David Coulter, Oakland County Executive
Mike Duggan, Detroit Mayor
Jason Morgan, Washtenaw County Board of Commissioners Chair
State Rep. Jason Sheppard (R-Temperance)
Carolyn Wilson, Beaumont Health COO
Alisha Bell, Wayne County Board of Commissioners Chair
Scott Benson, Detroit City Council Member
David Woodward, Oakland County Board of Commissioners Chair
September 19, 2019
Press Release
9-19-19 - Moody's Upgrades Wayne County, MI to Baa1
FOR IMMEDIATE RELEASE
September 19, 2019
MOODY'S UPGRADES WAYNE COUNTY, MI TO Baa1; OUTLOOK STABLE
DETROIT –Wayne County’s credit rating has been upgraded by Moody’s Investment Services to Baa1 from Baa2. The ratings agency determined the County’s financial outlook is stable.
Moody’s cites Wayne County’s “progress towards strengthening its operational and financial performance, aided by past restructuring of its departments and retiree benefits” as reasons for the upgrade. Additionally, the ratings agency said Wayne County is better positioned to respond to economic downturn, and to absorb growing costs.
“The upgrade and positive outlook reflects the administration’s sustained commitment to a culture of fiscal stability while improving operations,” said Deputy Wayne County Executive Richard Kaufman. “Our finances are stable and we are better prepared to weather future economic downturns. We are focused on maintaining that progress. Doing so will help us address our remaining challenges as we continue to take steps to bolster our pension funding.”
Moody’s also identified potential long-term challenges facing Wayne County including a “somewhat fragile” recovering tax base and economy as well as pockets of high poverty and unemployment.
“Wayne County’s recovery has created a foundation for growth, but even Wall Street recognizes that sustainable growth must be broad-based,” said Wayne County Executive Warren C. Evans. “Expanding our tax base and developing a more diversified economy are important. However, it’s equally critical that we address poverty and aggressively pursue policies, such as regional transit, that create opportunities for residents.”
Since taking office in 2015, the Evans Administration has eliminated a $52 million structural and an $82 million accumulated budget deficit, delivered four consecutive budget surpluses, and increased Wayne County’s pension funding from 45% to 61%.
Press Release
9-20-18 - Wayne County Planning to Veto Budget Amendment
Wayne County Executive Warren C. Evans today announced he will veto an amendment by County Commission to his proposed budget for the 2018-19 fiscal year, which would increase the stipend paid to Medicare eligible retirees by $15 per month per person. This amendment will result in increasing the County’s unfunded OPEB liability by an estimated $5.6 million. The County Commission approved the County’s budget which included the amendment by a vote of 13-2
The Team
