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Fulton County councilors agree to seek Baker Tilly proposal to shape bond plan and tax impacts
Summary
Councilors asked staff to invite Baker Tilly to present a long-term plan to outline capital needs and bond sizing before the budget season; the firm's work would help the county estimate borrowing (roughly $2.8 million was discussed) and project the effect on the tax rate.
Fulton County officials on Feb. 17 asked staff to invite Baker Tilly to prepare a long-range financial plan and present it to both the county council and the commissioners so elected leaders can evaluate options for a bond package ahead of budget season.
The council chair outlined that using a similar amount as last year — roughly $2.8 million — would keep the county's debt-service tax rate near current levels. "If we use the same amount we did last year, close around $2,800,000, our tax debt service tax rate would stay about the same," the chair said while urging that any borrowing be limited to capital assets.
Members said they want Jason from Baker Tilly to provide detailed numbers and a formal proposal so the council can involve the county's bond counsel and complete planning before budget season. Several members noted looming fiscal changes on the state level (referenced in the meeting as "SEA 1") and the potential need to reestablish local tax limits, increasing the importance of a five-year outlook.
The council voted to ask staff to engage Baker Tilly for a proposal and to have the consultant appear at the next meeting with costs and timelines. The vote was unanimous.
