Davenport & Company financial adviser Mitch Bergoglio told the Nash County Board of Commissioners on April 16 that the county’s financial position supports planned capital funding for fiscal year 2026 and associated borrowing if the board chooses to proceed.

Bergoglio summarized the county’s credit factors and ratings: "The county has a very strong credit rating at double A2 from Moody's, double A from Standard and Poor's," and he emphasized that fund balance and managed debt levels are key levers the county controls. He reviewed Moody’s methodology (economy, financial performance, institutional framework and leverage) and noted that Nash County’s fund balance policy (20% unassigned general fund balance minimum) and current debt ratios position the county within or below medians for similar-rated counties.

Davenport’s analysis (presented with materials distributed to commissioners) showed FY26 county projects of about $21.6 million across county and community college lines with roughly $7.6 million expected from pay‑as‑you‑go funding, $1.0 million in grants, and roughly $13.0 million identified for debt financing. The firm modeled a 20‑year financing at a 5% planning rate and estimated the county has debt capacity under existing policy but noted affordability pressures beginning roughly in fiscal 2029 under the current CIP assumptions.

Commissioners asked about ways to improve a credit rating (Bergoglio said long‑term economic growth and tax base expansion) and about debt term tradeoffs; he said the county could request 10-, 15- and 20‑year proposals from banks to evaluate payment and interest tradeoffs. Bergoglio described next steps: a bank solicitation in mid‑June, a public hearing and preliminary approval in July, submission to the Local Government Commission in August, and funding in mid‑August if the board moves forward.

No formal borrowing was authorized at the work session; staff and the board discussed next steps and timing for LGC approval if they pursue the planned financing.