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Mahoning County deputy auditor: ‘We’re living beyond our means’

Published: Sun, July 3, 2011 @ 10:57 a.m.




Mahoning County is not in danger of defaulting on its debt this year, but some of it will have to be refinanced, the county’s chief deputy auditor says.

“It is going to be difficult for the county to make these debt payments that are due. ... It’s going to take some maneuvering to make sure we get that covered,” said Carol McFall, chief deputy auditor.

“We have two large short-term debt obligations due this year,” McFall said. They are a one-year $4 million health benefits claim note and a $2.5 million note taken out in 2007 against anticipated sales-tax collections.

Both are scheduled to be paid in full this year, but the county can’t afford to do that, McFall said. “That’s why we’re going to have to roll something over,” she explained.

A $4 million sales tax note issued last year will be due in 2013, she added.

“We’ve got to get ourselves off the short-term debt borrowing. We’re living beyond our means,” McFall added.

“We have to start bringing more money in and we have to maintain and keep cutting costs wherever we can,” she said.

Read the full story Monday in The Vindicator and on Vindy.com.


1Stan(9923 comments)posted 5 years ago

Raising the income tax along with property taxes is the logical solution . Perhaps some of those vacant properties could be advertised and sold to out of town suckers also . Then charge them for the demolition .

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2Millie(192 comments)posted 5 years ago

Nothing changes except the taxpayers that actually go to work are being asked to pay more taxes to the 3rd or 4th welfare generation. The public servant group doesn't want to contribute anything towards their benefits with a goal of getting a permanent disability payment.

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3redvert(2240 comments)posted 5 years ago

The solution is simple, get rid of McFall.

It is not right that she should actually say that we are spending money we do not have. Doesn't go with the thinking of government in the valley.

There are actual taxpayers out here that can absorb the deficit !!!

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4ipaidattention(68 comments)posted 5 years ago

Where is Sciortino and why is McFall doing his job??? TCB!

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