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Henry County approves interfund loan, sets five-year repayment plan for stormwater fund
Summary
The Board approved a formal interfund loan to reimburse general fund advances to the stormwater enterprise, recognizing roughly $4.4 million in past advances and approving a repayment plan starting FY27 with $880,000 annual payments over five years.
The Henry County Board of Commissioners approved an interfund loan agreement on June 23 to formally recognize prior advances from the general fund to the county’s stormwater enterprise and establish a structured repayment plan.
Financial services presenter said, “Over the last 4 fiscal years, these advances have accumulated to an outstanding balance of approximately $4,400,000 owed to the general fund.” The board was told the proposed repayment plan would begin in FY27 and run five years with annual payments of $880,000 until the balance is repaid.
Operations staff explained the county has transitioned many stormwater personnel to the Department of Transportation payroll to free up enterprise fund dollars for repayment. The staff member said the change preserves day-to-day stormwater operations while allowing repayment, and added that the county will need to bring a rate increase for stormwater fees to the board in the future to ensure operations and debt service are sustainable: “We will need to bring to you a rate increase for stormwater fees to ensure that the cost of stormwater operations are covered.”
Board members asked for documentation and totals supporting the amendment and the loan; a participant calculated the listed transfers across funds as $30,598,015 when the line items were added. The presenters said the interfund loan formalizes past assistance and creates a repayment schedule intended to reimburse the general fund without changing current-year operations.
The motion to enter into the interfund loan agreement was moved, seconded, and carried. The board directed staff to include the loan schedule in the FY27 budget planning and to return with necessary fee proposals and formal documents for implementation.
