The Macon County Board of Commissioners heard comments about the Capital Improvement Plan (CIP) and options for the upcoming fiscal year at its April 14 meeting.
Mitch Brigulio of Davenport and Company discussed future projects and outlined the county’s ability to borrow money. He said the county is in a good place on its debt obligations, which gives the county flexibility on when and how it chooses to fund large projects.
“The county has a very strong credit rating AA2, AA. That’s a reflection on you all, the way you manage yourselves financially and otherwise,” Brigulio said. “It also says you have access to the capital markets … if you need or want to borrow money to fund a capital project, you have access to borrow that money because of your strong credit rate.”
He said capital projects were a good place to spend down the county’s fund balance if commissioners are interested in doing so specifically because it is a one-time expense rather than something like a new service which would require repeat funding.
Brigulio noted that about $20 million of the county’s fund balance is already dedicated to capital improvement projects but has not yet been spent or transferred to the capital reserve fund so the fund balance does not appear to be decreasing. After the county spends this money, the fund balance will be approximately 40% of the general fund’s expenditures, leaving it 10% above the county’s target of 30% and 15% above its minimum of 25% (dictated by policy).
With $48,268,793 in the unassigned fund balance in 2025, Briguilo said, going by the 2025 audit, the total unassigned fund balance needed to meet the 30% target would be $21.6 million. After spending or transferring the $20 million previously committed to other capital projects, a little more than $6.6 million should be left in the unassigned fund balance in excess of that $21.6 million.
Upcoming projects requested by department heads for fiscal years 2027-2031 include major projects like the Macon County pool project, municipal water connection at Iotla Valley Elementary, a new East Franklin Elementary School building, a classroom addition for Cartoogechaye Elementary, a conversion of Bartram Academy’s current building into a Pre-K building, relocation of county facilities and completion of the Public Safety Training Center firing range and burn building. Many of these projects could be funded partially or entirely with grant funding but would amount to an estimated $77,930,667 in expenses over the next four fiscal years. An estimated $48,112,000 could come from grants. Smaller projects would include expenses for different county departments, estimated at $42,934,808 ($18,472,992 from grants). These projects have been requested but would need to be approved by commissioners.