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Nelson County supervisors review debt‑capacity scenarios and authorize public hearing on one‑cent real estate tax increase
Summary
Staff presented three debt‑capacity scenarios to manage $57M potential borrowing and the Board voted 3–2 to advertise a one‑cent Real Estate tax increase (from $0.65 to $0.66) for a public hearing as supervisors weigh a likely $1.8M school funding request.
Nelson County staff walked the Board of Supervisors through multiple debt‑service and cash‑flow scenarios on March 22 as the county figures out how to balance capital needs and school funding demands.
County Administrator Candice W. McGarry and Finance Director Linda K. Staton presented three approaches for managing up to $57 million in debt capacity, each combining recurring transfers (including a recurring $610,000 transfer referenced in the scenarios) and one‑time cash infusions to shore up the debt service reserve. The scenarios differ in timing and use of recurring versus nonrecurring funds but result in similar total outlays across the planning horizon.
McGarry noted a related state…
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