Balancing budgets

Bolivia, NC (WWAY)- With the new fiscal year quickly approaching counties throughout North Carolina are working to balance their budgets. Some are having more success than others.

Brunswick County commissioners sat through a four hour budget workshop Tuesday. With the July first deadline quickly approaching, county leaders are trying to make sense of all the dollars. But given the economic climate, Brunswick County finds itself in pretty good shape.

In New Hanover County commissioners have been putting 16% of their total budget into the county’s rainy day fund. That’s more than double the state requirement. But across the river in Brunswick County commissioners have set aside 20%.

“As long as we do that, we don’t have to worry about our bond rating,” said Brunswick County Commission Chairman Bill Sue.

New Hanover County has a AAA bond rating, but it could hurt that rating if it dips into it’s savings. That would cost the county more money in interest in the long run. Brunswick County has a AA bond rating which is pretty close. Dipping into the savings won’t jeopardize their rating.

And while New Hanover County residents are in an uproar over threats to cut services, Brunswick County Commissioners have set aside some money for almost all non-profits requesting funding.

“They provide a service to the citizens of the county,” said Sue. “And they provide a service that doesn’t cost the county as much money as if we had to provide it straight out.”

Brunswick County will have to raise some fees to increase revenue for the upcoming year. But, unlike New Hanover County, residents won’t see a property tax increase. And if they shop locally they won’t have to pay the voter approved sales tax either.

“A lot of that quarter cent sales tax is going to come from residents outside of Wilmington. So i would encourage people in brunswick county to shop in brunswick county,” said Sue.

In the recommended budget, no one will lose their job and Brunswick County workers won’t have to take furlough days either. The commissioners plan to hold a public hearing on the budget at their June 7th meeting.