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County consultants: debt capacity exists but school financings will require additional revenue or phased plan
Summary
Davenport consultants told commissioners Harnett County has debt capacity under policy metrics but school projects (Highland High, CTE high school) create cash‑flow shortfalls on the school side that would require additional revenue (modeled as 'pennies' on the tax rate) or other funding strategies.
Davenport consultants presented a multi‑page financial review to the Harnett County Board on Feb. 10, concluding the county’s credit ratings (Moody's AA2, S&P AA) and fund‑balance reserves put it in a strong position to borrow for planned capital investments — but that school projects create affordability challenges.
The firm reported tax‑supported debt outstanding of roughly $220 million (principal) with total principal and interest of just over $300 million, and noted the county has approximately $33 million of committed fund balance built up for debt service. Davenport said Harnett meets its…
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