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County attorney warns spending trends could prompt credit‑rating review
Summary
Pope Law attorney Kim Wunder told Barnwell County Council that persistent overspending and unbudgeted expenses could lead to a credit-rating review and higher borrowing costs, though the county retains emergency reserves.
Attorney Kim Wunder of Pope Law told the council May 20 that two fiscal trends concern bond-rating analysts: the county has spent more than its revenues in recent years and has incurred legitimate expenses that were not budgeted.
"Based on the County's spending habits over the past 5 or so years, we may want to be prepared for the credit rating to be down," Wunder said, warning that a lower rating would make future borrowing more difficult and more costly. She noted the county is not without resources, pointing to a $1 million Evergreen Fund reserve for unbudgeted emergencies.
Wunder urged officials to rebuild reserves and consider corrective budget measures ahead of the June 9 budget presentation. Council members acknowledged the risks and discussed steps to reflect both expenditures and incoming reimbursements in departmental budgets.
