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St. Mary's County realigns capital funds, reducing NextGen 800 MHz borrowing by $1.14 million
Summary
The Commissioners approved a budget amendment on May 23 that moves county sources out of the FY2017 capital reserve into the NextGen 800 MHz project, lowering planned borrowing by $1,137,616 and increasing available debt capacity for FY2019.
Commissioners of St. Mary's County on May 23 approved a budget amendment that realigns capital funding sources and reduces the county's planned borrowing for the NextGen 800 MHz public safety radio project by $1,137,616.
County Chief Financial Officer Jeanette Cudmore told the board the change moves county transfer-tax and pay-as-you-go (PAYGO) sources from the FY2017 capital reserve into the NextGen project to reduce the amount the county needs to sell in bonds. "So what we're…
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