Maintaining Fiscal Discipline
Fiscal Responsibility
In each of our families there always seems to be "too much month left at the end of the money." Governments at all levels experience the same problem – too many needs and wants for the available resources. That is why, just like at home, elected leaders must prioritize needs and wants while operating government more efficiently and effectively.
Over seven years ago I inherited a $28 million county budget with almost one-third of it balanced through the obligation of $9 million in county reserves (savings). At the completion of the 2002/2003 budget year (six months into my first year in office) we completed that fiscal year actually using only $2.6 million of the $9 million originally programmed to be spent from the county's savings account– a 70% reduction in the deficit spending planned by the previous fiscal court.
The following year, the first full budget year of my tenure, we completed fiscal year 2003/2004 by reducing general reserve spending by another 50% - down to $1.2M. Subsequently, just thirty months after taking office, we were able to reduce the actual use of general reserves to virtually ZERO at completion of the 2004/2005 budget year!
This year we reduced the county's fiscal year 2010/2011 budget to the size it was seven years ago, a reduction of over $3 million or 9.7% less than last year's budget. The budget is balanced without utilizing funds from county savings or using the annual dividend county government receives from ownership of Hardin Memorial Hospital. In fact, during the last six fiscal years, county government has cumulative added over $750,000 back to the general fund savings account. We've accomplished this without negatively impacting existing programs and services through various cost saving initiatives and increased efficiencies.
These actions have also allowed us to increase Road Department funding by $400,000 for road maintenance and repair, as well as provide a $250,000 increase for Emergency Medical Services initiatives. Also included in the new budget is $225,000 for our environmental stewardship programs such as recycling, road side litter abatement, and illegal dump cleanups.
The county's use of available dept capacity continues to decrease as we pay down the amount of debt owed by the county government. Our total outstanding debt is now $17.9 million; down from $20.4 million from the previous year. This year's annual payment on the dept will be $2.9 million; considerably less than the previous year's $3.8 million. This is primarily due to debt restructuring made possible through the county's enhanced "Double A" bond rating – a significant upgrade in the county's financial rating in August 2009!
During the last seven years, Hardin County Government made a tremendous accomplishment in stopping a pending financial train wreck handed us in January 2003. We are now traveling on a new track with a powerful locomotive fueled by innovative programs and leadership. The results are a county government efficiently and effectively utilizing all available resources to meet the needs of our rapidly growing community while maintaining a full head of steam moving toward controlled growth and prosperity.