Wednesday, February 20, 2013

What to do with the Windfall?

I was recently asked for my thoughts about spending the windfall funds.  I think we need to restore our recreation center facilities, repay the money we took from the street resurfacing last year (as put forth by Baird), then pay down our street improvement project debt in order to free up funds that will allow us to be flexible in years going forward so that we can continue the street resurfacing projects.

We are currently at a debt level so high that we are in danger of being unable to fund the annual street surfacing program because all of that money is being used to pay off the debts from large road construction projects.  We need to maintain the flexibility to have money available to keep resurfacing roads every year.  Paying off down street debt would allow us to do that.  Moving forward, we need to have a responsible cap on borrowing so that we do not find ourselves in this situation again.

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