City of North Las Vegas announces big financial gains

NORTH LAS VEGAS, Nev. (KSNV) — It’s a big day for North Las Vegas and the city's taxpayers. The city that was once in a state of fiscal emergency has turned things around.

During a press conference on Monday, city leaders tasked with restoring the city’s credit rating announced that over the last six years they’ve done just that, thanks to smart financial maneuvering.

North Las Vegas now has a fully restored credit rating that is higher than it was pre-recession.

In 2012, North Las Vegas had a $30 million budget deficit, which led to some facilities closing, like public libraries and public pools, as well as lower property values and higher unemployment.

City manager Ryann Juden says the city’s credit level had gone from "junk status" to "investment grade." Juden says over the last five years the city has seen steady revenue growth of 9%, had strong management of practices and policies and has sufficient cash on hand to weather emergencies, like another recession.

Juden says overall, taxpayers dollars will now be used to improve services for city residents.