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Commissioners accept third Hurricane Helene cash‑flow loan of $485,000
Summary
Ash County accepted a third no‑interest cash‑flow loan from the state (Office of State Budget and Management) to maintain liquidity for hurricane recovery projects; county staff said the loans provide short‑term cash and may be forgiven by the state but must be repaid if not forgiven.
Ash County commissioners approved acceptance of the third state-provided Hurricane Helene cash‑flow loan on Oct. 6.
County staff explained these no‑interest loans are offered through the General Assembly and the Office of State Budget and Management to provide temporary cash flow for counties after storm events. The county previously accepted two loans (approximately $468,000 and $309,000) and accepted the third loan of $485,000 at this meeting. The funds are currently held in the county's account and not spent; staff said the loans could be helpful if FEMA reimbursements are delayed or insufficient for projects such as debris removal or Riverview repairs.
“The first was about 468,000. The second was 309,000 and change. This one is $485,000,” staff said. Commissioners voted to accept the loan by voice vote.
Why it matters: The loans improve short‑term liquidity to cover hurricane‑related expenses when federal reimbursement is uncertain or delayed. Staff noted there is no downside to accepting the interest‑free cash now and retaining the option to use it if needed; if the state forgives the loans later the county would retain that benefit, but if not, the loans must be repaid.
Next steps: The county will keep funds available and allocate as needed for hurricane recovery projects; staff will monitor FEMA reimbursement and other state/federal assistance.
