VICKSBURG, MS (WLBT) - An annual report for the City of Vicksburg shows that the the city is in good financial shape.
Moody’s Investor Services released it’s yearly comments on the River City, saying it has a solid economy.
“It is like your credit score or my credit, it means that we have a great credit score ,” said Mayor George Flaggs.
According to Flaggs, Vicksburg has a full value capita, more than 98,000, which is stronger than the U.S. median.
He said the annual report that was released validates that the city is moving in the right financial direction, but it wasn’t easy to getting to this point.
“When I came into office in 2013, we lost our bond rating, we had less than a million dollars in the bank," said Flaggs. “We have been able to save $3 million in reserve, we have been able to reduce the number of employees by privatizing the water plant and waste water plant.”
Flaggs said knowing the city’s financial position is strong is a win-win for the city and the citizens of Vicksburg.
“Anytime you have a good bond rating that means you don’t have to raise taxes," he said. “It is a game changer. We will be able to improve our infrastructure, do resurfacing of streets and we will be able to improve our tourism.”