Interim Finance Director says Stephens County in good financial standing

Interim Finance Director Phyllis Ayers gave an update on the County Finances during the recent Stephens County Board of Commissioner’s annual Planning Retreat.

Ayers explained that the county is in good financial standing.

“I just want to mention on your first page, this is your reconciled cash in the bank for each of these funds. The most important are the first two, that is your general fund and your operating money. We peeled off about $5 million, including some investments and obviously the investment market isn’t doing too well right now, so I’d like to see that get back over that eventually,” she said.

Another account Ayers addressed was the American Rescue Plan Act.

“Another one I wanted to point out—American Rescue Plan—there’s a little problem with this one. There’s only $504,000 left in this account because the county did not renew its SAMS registration, so $2.5 million is sitting out there and it’s coming to us; but we had to jump through some hoops. I found somebody at the Federal Government who helped me get that done, and it now says that we are in compliance, the money is on its way but it’s not here yet,” Ayers said.

Commissioner Chuck Wright asked why the county didn’t renew?

“Why did we not re-request it,” Wright asked?

“The Department that was in charge of renewing SAMS did not,” Ayers said.

“I got you,” Wright said.

“As soon as we get our next allotment that will go up quite a bit. Because we’ve allotted a lot of that ARPA money,” Ayers said.

Ayers says the county should be proud because the prior commission eliminated the jail debt.

“On the second page, this is something to be really proud of for a small government or any government: this is your debt and the jail debt is now gone; because the prior commissioners has been eating off that debt, so you don’t see that on here any longer. This debt really isn’t general fund, property taxpayer debt. This is SPLOST debts. Your top three: you have Caterpillar for two backhoes and one grader that is on a lease purchase agreement. At the end of it we can decide to make a balloon payment and buy them or Caterpillar will come in and buy them back from us and replace them with new ones on another lease purchase agreement. And SPLOST is paying for that,” she said.

She says the other debts the county has is bonds and a lease for a paver.

“The second one, these are your G.O Bonds and your last payment will be due on July 1, 2026. And then, the third one is our paver at the road department done exactly the same way, paid by SPLOST, on a lease purchase agreement,” she said.

Ayers noted that the County is in a strong financial state.

Following Ayers presentation, the Commission decided to have Ayers present a financial report each quarter moving forward.