Mahoning County deputy auditor: ‘We’re living beyond our means’
By PETER H. MILLIKEN
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.