County Prepares for Revenue Crunch
Economic conditions locally and across the globe have prompted County Manager Cary McSwain to prepare a contingency plan as a precautionary cushion against a possible dramatic drop in revenues.
In a work session Thursday night, McSwain told the Moore County Board of Commissioners that revenues are leveling off, fewer building permits are being issued and fewer deed transfers are being recorded.
McSwain said he has imposed a temporary freeze on some budgeted capital projects at least until the county gets a clearer picture of the economic impact of the current financial crisis, probably by mid-January.
However, he said Moore County remains in sound financial condition and these are merely precautionary steps to protect the county should the crisis hit home too hard.
"We're in good financial shape right now," McSwain said. "We're being responsibly cautious."
The freeze does not apply to two major building projects in the preliminary planning stage, a new public safety complex and a new county office building. McSwain said these projects have not advanced far enough to be budgeted and thus are not affected by the freeze. If conditions worsen, it is possible that they too may be delayed.
Financial Services Director Lisa Hughes said the "frozen" capital projects include a microwave tower for Public Safety, loading equipment for the Solid Waste Division, computer software, a vehicle locator and replacement vehicles, among other items, all budgeted for several $100,000. Equipment budgeted from the Wastewater Treatment Plant enterprise fund is also being delayed.
Also making presentations to the board were Register of Deeds Judy Martin and Planning Director Joey Raczkowski.
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