County Financial condition now

Last week, after the recent checks were printed, I asked for the bank balances.  There was approximately $850,000 in the bank at that time.  Based on revenues that have been coming in, the county can expect about $150,000 a month in revenues; however, the average monthly checks to vendors are $480,000; additionally the average monthly payroll is $330,000. 

Fortunately, the county will receive around $330,000 this month for the Homeowners Tax Credit the State held last year.  That will help us pay for June’s payroll and delay having to borrow money.  It is easy to see that borrowing money to operate will be on an agenda in the near future. 

The BOC and County Manager must be very diligent in watching what is approved and spent on a daily basis or the county will again spend more than it brings in.