Commission Slashes SPLOST Projects

The Jasper County Board of Commissioners heard from a financial planner about issuing General Obligation bonds, and basically determined they did not want to borrow the amount of money they had been considering.

Instead of looking at borrowing $8.2 million for assorted projects, the commission is now looking at only $6.2 million. The Special Purpose Local Option Sales Tax (SPLOST) proceeds would be used to repay the bonds, but one round will not be enough to pay it off. It won’t pay off the $6.2 million either, but eliminates some debt for the county.

The SPLOST is estimated to bring in $3.9 million for the county, as well as some for the cities of Monticello and Shady Dale. That split had previously been determined.

The commissioners determined they could do some projects through regular budgeted funds, even if it takes a little off of the fund balance. There has been much debate among the commissioners in recent months about how much fund balance is enough. With a $4 million fund balance, they felt like several projects could be handled through the general fund.

They will not borrow the money for their Local Maintenance and Improvement Grant (LMIG) paving, for example. County Manager Mike Benton said there is enough in the current SPLOST to cover the 2018 and 2019 LMIG match.

Other smaller projects that were to be included in the SPLOST now are not, but will be handled through general fund. These include Jaws for fire/rescue, a phone system for the 911 authority, equipment for public works, and a new tanker.

The SPLOST is six years, so all the projects they took out probably will not be done the first year, but sometime within the next six.

The $6.2 million they will borrow includes funds for a gymnasium at the recreation complex, an expansion and renovation of sheriff’s offices, and commercial paving funds.