Strafford County revenue subcommittee approves revenue and capital estimates after discussion of bonds, jail boarding and grant losses

The Strafford County delegation's revenue subcommittee on Oct. 12 voted to accept the subcommittee's estimates for county revenues and capital expenditures after a discussion that highlighted a newly issued bond, changes in nursing-home Medicaid payments, growing boarding revenue from federal agencies and several grant interruptions.

Ray Bauer, county administrator and nursing-home administrator, told the subcommittee, “We bonded yesterday, at the amazing rate of 3.35%,” and said the 10-year bond surprised staff because internal estimates had been about 3.95%. Bauer said five bids were received and staff were pleased with the result.

The bond discussion led subcommittee members to review existing bonded debt, bond fees and whether particular capital expenditures should be paid in cash or bonded. Bauer said current analysis indicates refinancing older short-term bonds would not be cost-effective because of remaining terms and fees.

The subcommittee also discussed revenue shifts at Riverside Rest Home. Bauer said Medicaid-related revenue increased after staff clarified resident acuity, producing what he described…