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Advisers recommend 35% combined reserve target, debt limits in Nelson County financial policy draft
Summary
Davenport & Company recommended Nelson County formalize financial policy guidelines including a 30% minimum unassigned fund balance (~$13.8M), a 5% budget stabilization fund (~$2.3M), and debt ratio limits (tax‑supported debt ≤3.5% of assessed value) during a Sept. 19 presentation to the Board.
Financial advisers from Davenport & Company urged the Nelson County Board of Supervisors on Sept. 19 to adopt written financial policy guidelines that set clear reserve and debt benchmarks intended to preserve fiscal stability and guide future Boards.
Roland Kooch and Ben Wilson told the Board their draft policies would memorialize practices the County already follows and provide benchmarks for creditworthiness and long‑term planning. They recommended reframing the County’s fund balance target as a percentage of the General Fund budget: a minimum Unassigned Fund Balance of 30% (about $13.8 million on the county’s FY2025 figures), plus a 5% Budget Stabilization…
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