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Davenport presents $136M five‑year CIP; advisors say county can borrow but will draw reserves
Summary
Davenport Financial Advisors briefed Wayne County commissioners on a five‑year capital improvement plan totaling roughly $136 million, modeling grant funding, pay‑as‑you‑go reserves and potential $30 million in borrowing spread over multiple years; advisors said debt capacity exists but the plan draws down reserves and may require modest revenue adjustments later in the window.
Wayne County received a detailed presentation May 5 from Davenport Financial Advisors outlining a five‑year capital improvement plan and the county’s capacity to fund it.
Ted from Davenport reviewed the county’s bond ratings (Moody’s Aa2, S&P AA), current debt profile (roughly $141 million outstanding, split about $47 million for schools and $97 million for non‑school obligations), and fund balance policy. He said the county maintains a healthy unassigned fund balance above policy targets and that existing debt is generally well structured with fixed rates.
Davenpo…
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