0 Comments · Wednesday, July 31, 2013
A motion proposed by a majority of City
Council on July 30 would use leftover revenue from the previous budget
year to undo cuts to various programs, including human services, parks
and the Health Department.
by German Lopez
More JobsOhio controversy, Council undoing cuts, stadium improvements to cost millions
Six of nine JobsOhio board members have direct financial
ties to companies that have received tax credits and other help from the
agency and state government, an investigation from Dayton Daily News
discovered. The members are connected in various ways: Some are
employed by the companies, others sit on their boards and a few just own
stocks. The conflicts of interest that could undermine
JobsOhio’s goals. The privatized development agency was established by
Gov. John Kasich and Republican legislators to replace the
Ohio Department of Development. Republicans claim JobsOhio’s privatized
nature allows it to move at “the speed of business” when luring
companies to the state. But Democrats argue that the agency is
unaccountable and draining state funds without any clear indication of
where the money is going.
Meanwhile, JobsOhio gave financial aid
to a company that simply shifted jobs from one city to another. The
agency gave Timbertech a 50-percent credit to create 85 jobs in
Wilmington, Ohio. The company is abiding, but it’s simultaneously
closing down a Columbus factory at the loss of 58 jobs.
Cincinnati will end up not laying off any city employees after City Council undoes $4 million in budget cuts
with leftover revenue from the previous budget year. The restorations
will reverse some or all of this year’s cuts to human services, parks,
the Health Department and other city programs. Council members called
the higher-than-projected revenue evidence that Cincinnati’s economic
strategy is working. But the reversals also raise questions about the
city administration’s original claims: When the 2014 budget was first
being considered, Mayor Mark Mallory and his administration said the
city would have to lay off 344 workers, including many cops and
firefighters, to balance the budget without the parking lease.
But without any of the parking money allocated, the city managed to avert all layoffs and undo a bulk of cuts, largely by using better-than-expected revenues from the past budget
Fixing up the Great American Ball Park for the All-Star Game could cost county taxpayers $5 million.
The All-Star costs are just one part of the $27 million taxpayers will
pay to improve stadiums in Hamilton County over the next five years.
Stadiums are often touted by local officials as a way to boost the
economy, but economists and urban planners have found that publicly
funded sports arenas don’t lead to sizable economic growth.
Ohio’s job growth is so slow that it will take nearly five years to recover all the jobs lost during the Great Recession.
Councilman P.G. Sittenfeld is leading fundraising for this year’s Council campaigns.
The Cincinnati USA Chamber of Commerce is hosting two mayoral debates.
This year’s candidates are Vice Mayor Roxanne Qualls, ex-Councilman
John Cranley, Jim Berns and Sandra “Queen” Noble. Qualls and Cranley are
considered the two frontrunners.
The Cincinnati Art Museum is calling on community contributions to finish the second half of its renovations. The museum has raised $2.7 million out of the $6 million it needs.
Red Squirrel, a local restaurant chain, is closing down three of five eateries.
Internet-based psychotherapy apparently works.
by German Lopez
Human services, parks among programs getting funding restorations
A motion proposed by a majority of City Council today would use leftover
revenue from the previous budget year to undo cuts to various programs,
including human services, parks and the Health Department. The restorations mean no city workers will be laid off as a result of the operating budget passed in May. Previously, 60 positions had been cut, but many employees remained in different offices while the budget situation was worked out.
The cuts were previously approved with the 2014 budget
before council members knew final revenue numbers for fiscal year 2013,
which ended June 30. Council had to pass the budget 30 days early
because the city’s use of emergency clauses, which eliminate a waiting
period on passed laws, was being held up in court.
The city ended up with roughly $10 million more revenue
than projected in the past budget year. The Council motion uses nearly
$4 million to undo some of the $20 million in cuts carried out in the
latest budget. The rest of the extra revenue will be held until the city
manager makes further suggestions, but some of that money will likely
be saved for next year’s budget gap, Vice Mayor Roxanne Qualls said at a
Human services funding is getting more than $510,000
restored, putting the program at 0.4 percent of the operating budget.
Cincinnati has historically set a goal of directing 1.5 percent of the
operating budget to human services, which flows through various agencies
that aid low-income and homeless Cincinnatians.
The Health Department is getting the largest restoration
at $900,000, allowing the city to bring back positions affecting junked
vehicles, rodent control, litter and weed response, infant mortality and
Parks will also get back $400,000 out of $1 million that
was cut in the previous budget. Another $312,000 is being used to
restore recreation funding, particularly to keep the Busch Center open.
Other programs getting money back: the Center for Closing
the Health Gap, Cincinnati USA Regional Chamber, Film Commission,
African American Chamber of Commerce, Urban Agriculture Program, Office
of Environmental Quality, Neighborhood Support Fund, Neighborhood
Business District Support Fund, Law Department and funding to 3CDC for
Fountain Square maintenance.
Qualls claimed the higher-than-projected revenues are evidence the city’s economic strategy is so far successful.
“Cincinnati’s strategy of investing in jobs,
neighborhoods, people is working,” she said. “We are seeing an increase
in revenue as a result of investments we are making.”
Qualls also acknowledged that the budget debate has felt
like a “roller coaster” for many citizens. Originally, Mayor Mark Mallory’s
administration claimed it would have to lay off police and firefighters
if the city didn’t lease its parking meters, lots and garages to the
Greater Cincinnati Port Authority. But when the parking lease
was held up in a court challenge, Council managed to pass a budget
without the public safety layoffs. Now, Council is undoing further cuts and moving forward with the parking lease.
After the press conference, Qualls told CityBeat that some of the unused revenue may also be used to finance a disparity study
that would gauge whether the city should change its contracting
policies to favorably target minority- and women-owned businesses.
by German Lopez
Streetcar gets executive, businesses call for inclusion, gun control group opens Ohio chapter
John Deatrick is taking over as project executive of the Cincinnati streetcar project, moving on from his previous work as project manager of The Banks. Deatrick’s hiring announcement happened in April, but it was delayed while City Council fixed the project’s budget gap. Deatrick and his team previously won an award
for their work at The Banks, and he says he will bring the same scrutiny
and success to the streetcar project. A new project manager for The
Banks is set to be hired in August. Since the streetcar project’s
inception, it has been mired in misrepresentations and political
controversy, which CityBeat covered in further detail here.
Local business leaders are calling on the city government to change its contracting policies to target minority- and women-owned businesses. Advocates argue the city’s inclusion rates have greatly dropped
since Cincinnati did away with its inclusion program in the 1990s, but
the city administration points out the rates are likely understated
because women- and minority-owned businesses are no longer required to report
themselves as minorities or women. The business leaders say the figures are too low regardless,
which could have big implications since minority-owned businesses are
more likely to hire minorities, who have twice the unemployment rate as
white residents. As a result of court rulings, Cincinnati needs to first
conduct a disparity study before it makes any changes that specifically target minorities or women.
Gabrielle Giffords’s anti-gun violence organization is opening an Ohio chapter
to promote legislation that intends to protect both the public
and the rights of gun owners. Giffords, a former U.S. representative
who survived an assassination attempt, has been touring around the
country — at one point coming to Cincinnati
— to speak out against gun violence. Gun control legislation
failed in the U.S. Senate in April after it fell short of getting 60 votes to overcome
procedural hurdles, even though polling shows a clear majority of
Americans favor such legislation.
Local government funding may be further reduced
as a result of recent tax cuts because the Local Government Fund traditionally gets a percent of state tax revenue. Specifically, critics are concerned
less state tax revenue will slow down “natural growth” in funding to
cities and counties. Last week, an analysis from Policy Matters Ohio
found the recently passed two-year state budget already reduces local government funding, following even steeper reductions in the previous budget. The cuts since Gov. John Kasich took office have cost Cincinnati more than $22 million.
A traffic camera ban would cost Ohio cities and counties millions of dollars in revenue.
Ohio gas prices are starting down this week.
Home-schooled and private-school students have a right to play on public school teams because of a provision in the recently passed state budget.
When Columbus’ parking meters were upgraded to accept credit cards, revenue jumped by 13.2 percent. Cincinnati’s meters will be upgraded as part of the parking privatization plan.Ohio air bases are undergoing review
this week as part of Congress’ attempts to gauge whether the nation’s
Air Force is prepared for current and future missions and homeland
Slow news day, Enquirer?
Florida researchers found “fat shaming” actually perpetuates obesity.
It would probably take 300 to 500 piranhas five minutes to strip the flesh off a 180-pound human.
by German Lopez
Higher revenues could help restore funding to human services and parks
City Council could partly or totally undo the latest budget cuts to human services, parks and other areas by using higher-than-expected revenues from the previous budget cycle, Vice Mayor Roxanne Qualls announced today.When City Council passed the budget in May, it was unclear how much revenue would be left over from fiscal year 2013, which ended June 30. Now, revenues are expected to come in higher than originally projected.The full revenue numbers should be released next week, allowing City Council to evaluate its options for what and how much can be restored.Human services was cut by about $500,000 in the last budget, putting the program at $1.1 million. Funding to parks was also reduced by $1 million down to $7 million.But the funding could be restored, at least in part, within a month, Qualls said.Qualls and other city officials previously told CityBeat they intended to restore human services funding and other cut programs with higher-than-expected revenues and perhaps the parking lease, but Qualls' announcement today was the clearest indication that it's actually happening.The vice mayor made the announcement at a mayoral forum hosted by the Human Services Chamber of Hamilton County, which consists of various local social service groups. Qualls, who's running for mayor this year, was speaking at the event with John Cranley, who's also running for mayor.Human services funding flows through several local agencies that focus on providing aid to the homeless and poor. Programs include sheltering, job training and drug rehabilitation.Cincinnati has historically set a goal of dedicating 1.5 percent of its operating budget to human services, but only 0.3 percent of the latest budget went to the program.
by German Lopez
Posted In: News
at 09:18 AM | Permalink
Meet Roger Ramundo, city budget cuts could be reduced, AG won't appeal marriage order
Meet Roger Jeremy Ramundo,
the man police shot and killed on July 24 after what’s now being called
a “life or death struggle.” Police say they first tried to subdue
Ramundo, who had a history of mental health problems. But when Ramundo
fired his gun once, an officer retaliated by firing two fatal shots into
Ramundo’s left back. For family members and colleagues, Ramundo’s death
came as a shock; none of them seemed to expect that he could turn
violent. Ramundo was diagnosed with bipolar disorder and generalized
anxiety disorder, according to the health care worker who notified police that Ramundo left home with his licensed gun, but he had been refusing to take his medication for
either illness at the time of his death.
Budget cuts to human services, parks and other areas could be retroactively reduced or eliminated
with higher-than-projected revenues from the previous budget cycle,
Vice Mayor Roxanne Qualls announced yesterday. When City Council passed
the city’s operating budget in May, it had not yet received the full
revenue numbers for the fiscal year that ended on June 30. With the full
numbers expected to come in higher than originally projected, Council
will be able to evaluate options for what and how much can be restored.
Human services funding was cut by roughly one-third in the city budget,
putting it at 0.3 percent of overall spending — far below the city’s
historic goal of 1.5 percent.
Ohio Attorney General Mike DeWine won’t appeal the temporary restraining order that forces the state to recognize a Cincinnati same-sex couple on their death certificate,
but DeWine says he’ll continue defending the state’s ban on gay marriage.
Lisa Hackley, DeWine’s spokesperson, noted that such restraining orders
are normally not susceptible to appeal. Hackley’s explanation contradicts an earlier report from The Cincinnati Enquirer that the order was going to be appealed. Meanwhile, FreedomOhio says it
will try to put an amendment legalizing marriage equality on the
November 2014 ballot, which CityBeat covered here when the group was still aiming for the 2013 ballot.
The I-71/MLK Interchange yesterday moved closer to its
$107.7 million funding goal when Ohio’s Transportation Review Advisory
Council gave preliminary approval to Gov. John Kasich’s transportation
plan, which will use $3 billion raised through Ohio Turnpike revenues to
fund infrastructure projects around the state.
The Ohio Supreme Court will review whether anti-gambling opponents of racinos have standing to sue.
Among other issues, critics argue that Kasich’s legalization of video
lottery terminals didn’t represent an actual extension of the Ohio
Lottery, which is why the state claims it was allowed to legalize the
gambling machines without voter approval. The state’s Supreme Court says
it will decide the issue after it rules on a similar case involving
privatized development agency JobsOhio.
Democrats are voicing uncertainty about whether Republicans will actually take up a Medicaid expansion bill in September. Republican legislators rejected the expansion in the state budget,
but they’ve said they will take up the issue in the fall. The Health
Policy Institute of Ohio found the expansion, which is funded mostly
through federal funds from Obamacare, would insure half a million
Ohioans and save the state money over the next decade.
Charter schools’ big challenge: finding space to house their facilities.
An Ohio gun group raised $12,000 to buy George Zimmerman a gun or security system.
Drivers, beware: Hackers could soon be crashing your cars.
Drinking coffee has been linked to a 50 percent lower risk of suicide.
by German Lopez
Behind the parking plan drama, state budget cuts local funding, bridge to get federal bump
Being one of the first to discover a critical memo put Cincinnati Councilman P.G. Sittenfeld at the center of an ongoing drama
regarding the city’s plans to lease its parking meters, lots and
garages to the Greater Cincinnati Port Authority. The memo criticized
the financial details of the lease, but it was kept from the Port, City
Council and the public for nearly a month. Ever since the controversial
parking plan passed City Council and was upheld in court, concerned
citizens, business leaders and critics like Sittenfeld have been calling
on the city and Port to rework or halt the deal. So far, the city and
Port have stuck to their support. The city will get a $92 million lump
sum and at least $3 million a year from the lease, which it currently
plans to use to help balance city budgets and fund development projects,
such as the I-71/MLK Interchange.
The latest state budget secured more cuts to city and county governments,
putting local governments at a $1.5 billion shortfall in the next two
years compared to 2010 and 2011, according to a new report from
progressive think tank Policy Matters Ohio.
Republican Gov. John Kasich and Republican legislators slashed local
government funding in 2011 to help fix an $8 billion budget hole. But
the latest state budget, which Kasich signed into law in June, was awash
in extra revenues because of Ohio’s economic recovery — so much so that
legislators passed $2.7 billion in tax cuts. For Cincinnati, the
original cuts cost the city more than $22 million in revenue.
The Brent Spence Bridge was bumped up in a federal funding priority list
through a successful amendment from Sen. Rob Portman, an Ohio
Republican. The amendment prioritized $500 million for obsolete and
structurally unsound bridges, but it’s so far unclear how much of the
money will go to the Brent Spence Bridge project, which state officials
estimate will cost $2.7 billion. Currently, Ohio and Kentucky officials
plan to pay for the bridge project by enacting tolls.
Vice Mayor Roxanne Qualls, who’s running for mayor this
year, is calling on the city manager to produce a plan that would
structurally balance Cincinnati’s operating budget by 2016. “To build on
the momentum Cincinnati is now experiencing, we must set a course now
for a fiscally sustainable future,” Qualls said in a statement. “That’s
why I’m urging that we have a plan to reach structural balance by 2016,
restore reserves and increase the city’s pension contribution, minimize
using the parking lease payment to restore budget cuts and continue to
invest in neighborhoods and jobs to grow revenue.” The announcement
comes more than one week after Moody’s, the credit rating agency, downgraded Cincinnati’s bond rating
and criticized the city for its exposure to unsustainable pension
liabilities and reliance on one-time sources to fix budget gaps.
Ex-Councilman John Cranley, who’s also running for mayor,
is rolling out his jobs plan today. The initiative will provide a job
training program for individuals facing long-term unemployment or
underemployment, which the Cranley campaign estimates will result in 379
individuals per year obtaining full-time, permanent jobs. The
program will be mainly paid for by pulling funds from the city’s Office of
Environmental Quality, Department of Finance, travel and the state
lobbyist. “My deepest conviction is that there is dignity in work. I
believe all able-bodied adults should work and be self-sufficient. And I
believe society has an obligation to ensure the opportunity to work
exists,” Cranley said in a statement.On Second Thought: “Facts vs. Perceptions in Trayvon Martin Coverage.”
Police yesterday shot and killed
Roger Ramundo, an allegedly armed Clifton resident. Officers had
been called to the area of Clifton and Ludlow avenues by a mental health
provider, who said there was a person with mental health issues armed with a gun, according to interim Cincinnati Police Chief Paul
Humphries. Police said they tried to first subdue Ramundo with Tasers
during an ensuing struggle, but they were unsuccessful and the man
pulled out his gun and fired a shot. That’s when one officer fired two
shots that hit Ramundo, who was then taken to University Hospital, where
he was pronounced dead.
Gov. Kasich isn’t providing clemency
to a Cleveland killer who stabbed his victim 17 times, overruling a
rare plea for mercy from prosecutors but siding with a majority of the
state parole board. Billy Slagle will be executed on Aug. 7.
Ohio will take a hands-off approach
to promoting Obamacare, even though outreach will be crucial for the controversial
health care law. President Barack Obama’s administration estimates it
will have to enroll millions of young adults into health care plans to turn the law into a success.
Meanwhile, Hamilton County is investigating if Obamacare could result in lower property taxes by allowing the county to shift costs to the federal government.
A Cincinnati money manager is being accused of running an “elaborate Ponzi scheme”
that cost investors “tens if not hundreds of millions of dollars,”
according to a July 20 complaint filed in the Hamilton County Common
The average price of a flight from Cincinnati/Northern Kentucky International Airport dropped, but the airport is still the second-most expensive in the nation.
CityBeat gave Internet cat-celebrity Lil Bub an in-depth look in this week’s issue. Find it online here.
Want to maximize your tan? Here is how close you could get to the sun and survive.
by German Lopez
Posted In: News
at 01:17 PM | Permalink
Policy Matters Ohio finds cities, counties will receive $720 million less from state
The recently passed state budget means cities and counties will get even less money from the state, according to a new report from progressive think tank Policy Matters Ohio.
The report looks at “three blows” of cuts to local governments: less direct aid, no money from a now-repealed estate tax and
the beginning of the end of a state subsidy that supported local property taxes. The cuts add up to at least $720 million less over the next
two years than cities and counties got in the past two years, the report finds.
It’s even less money when looking further back in Ohio’s history — specifically before Republican Gov. John Kasich took office.
“Local governments will see $1.5 billion less in tax
revenues and state aid compared with” fiscal years 2010 and 2011, said
Wendy Patton, the report’s author, in a statement. “Fiscal crisis will
continue in many communities.”
Kasich and Republican legislators slashed local government
funding in 2011 to help fix an $8 billion budget hole. But the latest
state budget, which Kasich signed into law in June, was awash in extra
revenues because of Ohio’s economic recovery — so much so that
legislators passed $2.7 billion in tax cuts.
The Republican-controlled state government repealed the
estate tax in the last budget, but some Democrats and local governments
were hopeful at least some of the lost money could be restored this
Casino revenue was supposed to curtail some of the cuts,
but Policy Matters concludes it’s not enough. Casino revenue has also
consistently come under expectations: The state government in 2009
estimated Ohio’s casinos would take in $1.9 billion a year, but that
projection was changed in February to roughly $1 billion a year.
For Cincinnati, the previous round of budget cuts cost the
city more than $22 million in revenues — nearly two-thirds of the
budget gap the city faced for fiscal year 2014. Although the city managed to avoid laying off cops and firefighters as a result, it still had to slash other city services and raise property taxes.
Some city and county officials are trying to persuade the
state government to undo the cuts. In March, Cincinnati Councilman P.G.
Sittenfeld gathered officials around the state to launch ProtectMyOhio.com, which lets citizens write directly to the state government about the cuts.
by German Lopez
Ohio must recognize gay couple, Qualls knocks pension plan, 1.25 million in state uninsured
A federal judge ruled that a state death certificate must recognize the marriage of a newlywed same-sex couple,
but the order only applies to James Obergefell
and John Arthur. It’s the first time a same-sex marriage is recognized
in Ohio. The two men had the case expedited because Arthur is suffering
from amyotrophic lateral sclerosis, a deadly neurological disease with
no known cure. Al Gerhardstein, the attorney for the two husbands, says
the ruling could be the beginning of legal challenges from gay couples
inspired by the Supreme Court’s ruling against the federal Defense of Marriage Act (DOMA), which could put further pressure on Ohio to legalize same-sex marriage. CityBeat covered ongoing efforts to legalize gay marriage in the state here,
although the group in charge of the movement is now aiming to put the
issue on the ballot in 2014, not 2013 as originally planned.
Vice Mayor Roxanne Qualls in a statement called the tea
party-backed charter amendment that would revamp the city’s pension
system “a wolf in sheep's clothing.” She is also requesting the city
administration study the amendment’s consequences and report back to
City Council’s Budget and Finance Committee on Aug. 5. The amendment
would funnel new hires into a private retirement plan similar to what’s
typically found in the private sector — except, unlike private-sector
workers, city employees don’t pay into Social Security and don’t collect
Social Security benefits from their years with the city. The amendment
was announced less than a week after Moody’s, a credit ratings agency, downgraded Cincinnati’s bond rating in part because of the city’s increasing pension liability.
A poll analysis from the Health Foundation of Greater Cincinnati suggests more than 1.25 million Ohioans are uninsured,
with about 17 percent of the working-age population lacking insurance.
It also found that Ohioans are increasingly reliant on public programs
to obtain health benefits. The analysis looked at the Health
Foundation’s 2013 Ohio Health Issues Poll.
The results could spur further efforts to expand Medicaid eligibility
in the state, which the Health Policy Institute of Ohio previously found
would save the state money and insure nearly half a million Ohioans
over the next decade. Republican legislators rejected the Medicaid
expansion in the state budget, citing concerns that the federal government wouldn’t be able to uphold its 90-percent funding commitment.
Gov. John Kasich wants to fast track
the I-71/MLK Interchange in part by using revenue from the Ohio
Turnpike’s tolls. Kasich’s recommendations, which must be approved by
the state’s Transportation Review Advisory Council, add up to $107.7
million in state funds.
State Rep. Peter Beck, a Mason Republican who’s facing 16 felony charges of fraud, won’t resign his seat.
Twenty-eight people have applied to become Cincinnati’s next police chief.
With a recent uptick in violence, many have called on the city to
expedite the process of replacing James Craig, the former police chief
who left for Detroit earlier in the year.Despite rising interest rates, Cincinnati-area home sales in June continued their strong trend up.
For-profit entities are opening more online schools in Ohio, with the process set by state legislators to shut out public educators. A previous investigation by CityBeat found online schools tend to do worse and cost more than their peers.
The city administration and social media network Nextdoor are partnering up
to better link Cincinnati’s neighborhoods with the local government.
The network will provide a free website for each of the city’s
neighborhoods, which the city says will allow residents to “to get to
know their neighbors, ask questions and exchange local advice and
recommendations.” City officials plan to use the websites to regularly
reach out to local citizens.
Computer software from the Massachusetts Institute of Technology could make the Internet three times faster.
by German Lopez
Posted In: News
at 12:49 PM | Permalink
Officials blame Moody’s downgrade on methodology changes, state policy
It might cost Cincinnati more to issue debt following a credit rating downgrade by Moody’s. In a report released on July 15, the credit ratings agency downgraded the city’s general bonds from Aa1 to Aa2 and revised the bonds’ outlook to “negative.”“The negative outlook reflects the expectation that the city will continue to face challenges in attaining structurally balanced operations, stemming from its unfunded pension liabilities and reliance on a number of one-time budgetary solutions in recent years,” the report reads.In a memo to the mayor and City Council, City Manager Milton Dohoney put the blame on Moody’s methodological changes that now account for state pension funds that Cincinnati has no direct control over. Specifically, Moody’s now looks at the state-managed Ohio Public Employees Retirement System (OPERS) and Ohio Police and Fire Retirement System (OP&F) when scoring Cincinnati, instead of just the Cincinnati Retirement System (CRS), which the city directly operates.“It is important to note the Ohio Revised Code provides the percentage each employer pays into OPERS and OP&F as its contribution. The City has paid 100 (percent) of this contribution each year as required. The City has no ability to impact the unfunded liability of OPERS or OP&F,” Dohoney wrote in the memo.Still, some of the blame lies on the city’s pension fund, which is lacking a long-term strategy for sustainability, according to Moody’s. The CRS board is currently looking at scenarios to address the city’s long-term liabilities. Its next meeting is on Aug. 1, and it could produce changes that would be presented to City Council, according to the city manager’s memo.The report also takes issue with the city’s repeated use of one-time sources to fix budget gaps. Since 2001, the city’s annual operating budgets have used one-time sources instead of achieving structural balance with long-term cuts and sources of revenue.Critics argue the one-time sources only delay fiscal woes instead of permanently fixing the budget shortfalls. Supporters claim the one-time methods allow the city to balance its budget without taking austere measures that would lead to city layoffs and hurt growth while the economy is in recovery.Moody’s also claims the city has relatively weak socioeconomic indicators, particularly resident income levels and historical unemployment rates. The report from Moody’s does give Cincinnati some good credit, citing a “pressured but still satisfactory financial position,” the recent stabilization of earnings taxes, financial flexibility provided by an available but untapped levy authority, the city’s economically diverse population and an above-average debt position. Bonds are typically issued when the city needs a temporary infusion of funds for capital projects, such as the Cincinnati streetcar.Updated with more context.