Vicksburg cash grows tight without bond rating

Published 11:29 am Thursday, August 23, 2012

Ten years ago, if the City of Vicksburg needed cash to cover an emergency, it could have pulled money from a total of $4.61 million in its general fund account.

Five years ago, it had $3.69 million from which to draw.

Today, if the city had to get emergency cash, it would pull from its current available cash account totaling an estimated $5.66 million at BancorpSouth. The difference is that five or 10 years ago, the city could borrow money. Because it lost its bond rating in February and cannot borrow money, the city’s bank account is the only available money in the event of an emergency, such as a major sewer or water line break.

Email newsletter signup

Sign up for The Vicksburg Post's free newsletters

Check which newsletters you would like to receive
  • Vicksburg News: Sent daily at 5 am
  • Vicksburg Sports: Sent daily at 10 am
  • Vicksburg Living: Sent on 15th of each month