County’s finances OK now, but a challenge for FY2013

Two county meetings this week brought into sharper focus the current status of the county’s finances and what the county is facing in the next budget. CFO Rose Kisaalita told the Barrow County Board of Commissioners on Tuesday night that this year’s revenues through June 30 were a little higher than they were in the first eight months of the previous fiscal year. But spending also was up. Nevertheless, she projected the county would end FY2012 in the black and at the end of September would be able to add another $311,000 to the county’s reserves. That would bring the “unassigned fund balance” of the General Fund to about $6.2 million, which is significantly higher than the cash reserves just two years ago. However, whether that unspent money will survive the FY2013 budget process is an open question.
For the full story, see the July 25 issue of the Barrow Journal.