TheDigitel
The logic: Better the county deal with financial waves than a financial tsunami.
When a hurricane hits home, things are bad enough without the local county running broke as it copes with a surge in repair fees and a drop in revenue.
And so Beaufort County's Chief Financial Officer David Starkey and Deputy County Administrator Bryan Hill are advocating borrowing as much as $30 million for the peak of the season.
If all things are well, the money could likely be paid back at the end of November, and if it should be needed, the move would be a godsend — however, the "minimal" $200,000 interest cost has some wondering if the "insurance policy's" fee is unavoidable.
I'll point you to Bluffton Today for a full rundown on the scenario; read it here.
But the alternatives will likely be just as bitter to naysayers: raise taxes to create a $30 million buffer, cut services, or drop the "insurance" and cross our collective fingers.
