Ocean County Begins 2015 on Strong Financial Footing

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One of Ocean County's longest serving freeholders takes over as the board's director this year and believes the county is ready to embrace the challenges ahead because of its strong financial footing.

Ocean County entered 2015 with a triple-a bond rating from Moodys and Fitch, a feat that Freeholder Director John Bartlett, who also serves as Finance Liaison, is very proud of. Bartlett explained his core values on WOBM-AM's Townsquare Tonight.

"Governments must number one, pay their bills, and number two, live within their means and recognize the fact their revenue stream only exists from the generosity of the general tax payer."

Bartlett said that the bond rating isn't just window dressing. He said there's a practical purpose for the coveted financial standing.

"What's one of the reasons to be in strong financial shape? When disaster comes, when that ocean comes over those dunes and washes things up and away, this county is prepared to take the bull buy the horns and resolve the problem," said Bartlett.

Quite literally, in the case of Superstorm Sandy, Bartlett explained that because of the county's surplus funds, it was able to fund a $100 million dollar debris clean up project for several towns without having to borrow from outside sources.

The county is also faced with some major changes to its business landscape. There's rumblings of another potential Base Realignment and Closure Commission (BRAC) decision as the military prepares to downsize and the 2019 closure of the Oyster Creek Nuclear Generating Station in its future. However, Bartlett said the board is thinking about those things but its not worried about them.

"The nuclear power plant, quite frankly, will probably employ more people in its shut down phase than it does now in its operational phase. So even after 2019 when the plant itself closes ..., then starts the whole program of decommissioning the plant and that money's in place through the rates that we've all paid for electricity over the years and that will employ a lot of people for a long period of time," said Bartlett.

He also believes, with the infrastructure in place, there's a strong chance another energy-generating facility will take Oyster Creek's place.

Bartlett said this years goals include restoring two Sandy damaged county parks, Cattus Island and Berkeley Island County Park. He said both were virtually destroyed by the storm.