Commissioners Pass $16.3 Million FY17 Budget

CLEVELAND, Ga. — In a marathon three-hour meeting Thursday, the White County Board of Commissioners adopted a $16.3 million FY’17 budget.

The balanced budget calls for $16,299,730 in both revenue and expenditures and for maintaining a fund balance of 2.8 months or $3,404,837. Generally, the Board tries to maintain a three-month reserve. Special Revenue totals $4,191,724 to bring the total General Fund balance to $20,491,454.

Still uncertain, is whether or not there will need to be a millage rate increase. Commissioners are awaiting completion of the tax digest to set the millage rate for the next fiscal year.

“Increasing the millage rate is something this Board despises,” said Commission Chairman Travis Turner. “This is the first time in eight years we have even contemplated it.”

Commissioner Craig Bryant said, “This is only the second time in my 18 years on the Board we may need to increase it.”

Tom Owens of Raymond James presented options to the Board for refinancing the county’s Series 2010 bonds at a more favorable interest rate to realize a savings of about $115,000 over a four year period. The current interest rate is 3.15 percent while refinancing could potentially be set at 1.1 percent. Commissioners postponed action on the issue until next month.