The 'AA+' long-term rating on Cuyahoga County, Ohio's series 2009A general obligation (GO) refunding bonds, series 2009B various purpose limited-tax GO bonds, and previously issued GO bonds reflects the following factors: Deep, diverse economic base that is anchored by the city of Cleveland; Good income and strong wealth levels; A financial management team with a proven track record of proactive management in maintaining a strong financial position; and Low overall debt burden. Limiting these strengths is the continuing challenge of funding a relatively large share of general fund operations from economically sensitive sales tax revenues. Sales tax collections for 2008 totaled $213 million and have consistently represented about 25%-30% of total governmental fund revenues and about 50% of general fund
