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Stafford approves county budget Date published: 4/22/2009
BY JONAS BEALS As budget seasons go, 2009 has been a tame one in Stafford County. It ended with a twist yesterday when Supervisor Cord Sterling proposed a number of changes designed to fully reinstate the county's undesignated fund balance. After approximately two hours of discussion, the board passed the $238.5 million budget with Sterling's amendments 5-2, with supervisors Joe Brito and Paul Milde voting against the motion. "This should contribute substantially to maintaining a good bond rating and a balanced budget," Sterling said. "It certainly doesn't put us at greater risk." The undesignated fund balance has become a focal point because it is one benchmark that ratings agencies use to rate Stafford's municipal bonds. In the current economic climate, a lowered bond rating could have a significant negative impact on county finances. Stafford tries to maintain a fund balance of 10 percent of general fund revenues. The county ended the last fiscal year at 8.2 percent. Barring any further weakening of the economy, Sterling's proposed changes should put that figure at 10 percent for the current fiscal year and next. The proposed budget has revenues exceeding expenditures, with the excess directed into the undesignated fund balance. "As long as revenues come in, it will restore the fund balance in fiscal year 2009," said Nancy Collins, the county's budget director. Sterling had been working with staff for weeks on his proposal, but admitted that he had finalized it only hours before yesterday's meeting. Some supervisors expressed concern about the last-minute nature of the amendment, but accepted it with the support given by County Administrator Anthony Romanello. Superintendent of Schools Dr. David Sawyer noted that he would have liked more time with the amendment, but did not immediately see anything that he could object to. Fire and Rescue Chief Rob Brown and Sheriff Charles Jett had much the same reaction. Milde had lingering questions about where the money will come from, and how it will be used. Sterling's amendment effectively borrows $1 million from the county museum fund, to be paid back next year. It also eliminates the internal county auditor position at the end of September, and proposes charging the utilities department $600,000 to offset lost real estate revenue from projects like the new reservoir.
is a good thing.
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