Laurens County Government finished the past fiscal year with a surplus of $8.6 million, according to an audit reviewed at this week’s County Council meeting. The report by Davis, McNeish and Cooke gave the county a clean audit.
County Council Chairman Jim Coleman said “With an $8.6 million surplus, we are very strong, and that is a compliment to council and staff. Thank you to all.”
Councilman Joe Wood asked about long-term debt capabilities. County Administrator Ernie Segars replied that the county could borrow up to three million dollars for the county and general fund, and that should county need to borrow more state law requires that would require the county to have a referendum to get approval from the voters.
Jim Coleman also remarked that the county had been shortchanged a million dollars by the state not funding local governments to the statuary limit. He asked everyone to urge the state to increase funding in next year’s budget.
Councilman Keith Tollison addressed the need to prepare for potential future financial concerns by saying “With the problems that cities like Detroit are having with the high costs of pensions, we will need to keep an eye on our county retirement employees.”