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Fulton County approves $2013 water/sewer refunding after low bid boosts savings; managers present FY2026 budget with consent‑decree overlay
Summary
Commissioners approved a time‑sensitive water and sewer refunding after a Bank of America low bid increased projected savings to about $21.6 million. County staff also presented the FY2026 proposed operating budget showing higher expenditures and an overlay mill to cover initial consent‑decree items.
Fulton County commissioners on Nov. 19 moved a time‑sensitive finance item to the front of the meeting and approved a resolution to issue refunding bonds for the county’s 2013 water and sewer series. Interim finance director Ray Turner reported eight bidders and said the low bid from Bank of America at 2.631% increased projected net present value savings from earlier estimates: "With that rate bid this morning, those savings will now be 21,600,000.0," Turner said. The board voted unanimously to approve the resolution.
Later in the meeting, county management and the chief financial officer presented the FY2026 proposed operating budget. The staff described general‑fund revenue of roughly $996 million and proposed expenditures of about $1.053 billion, leaving an ending fund balance projected at roughly $176 million (meeting a 16.67% reserve target). Presenters said they built the base of the budget around the current operating millage rate (8.87 mills) and identified a separate overlay of about 0.39 mills to fund initial items tied to the sheriff‑consent process and other consent‑decree obligations.
CFO staff outlined priorities and mandatory costs included in the proposal: a cost‑of‑living adjustment for employees, continued funding of behavioral health and diversion programs, a $10 million set‑aside toward jail construction, funding for two new state court judgeships, and a continued contribution to Grady Hospital operations and debt service. The presentation also highlighted a package of additional enhancement requests that were not fully funded and presented them in tranches for board consideration.
Commissioners pressed staff on clarity about the millage calculation and the distinction between baseline operations and incremental consent‑decree costs; several said they wanted the raw departmental requests and clarified fund‑balance histories before final votes. The CFO said the staff will post materials, hold two legally required public hearings and return with requested clarifications in December and January ahead of final adoption.
What comes next: Staff will advertise and hold the required public budget hearing at the next meeting, provide additional breakdowns (including consent‑decree line items and department requests), and present final budget documents for formal action in January.
