At their November 6 meeting, Northampton County Council introduced an ordinance that will increase its stabilization, or rainy-day fund, from 5 to 10% of the general fund. It's what former Council member Ron Angle liked to call the "seed corn." If passed, it will become effective in January 2027. This, it has no impact on the stabilization fund proposed for next year by Executive Lamont McClure.
His proposed rainy-day fund for next year is $8.6 million, slightly above the minimum required by a current Council ordinance. This has been a sticking point with Council members John Brown and John Goffredo, who argue it should be higher for precisely the kind of emergency created as a result of the current state budget impasse.
McClure, however, has long maintained that letting this money sit unused amounts to overtaxing county property owners. As Executive and before that as a Council member, McClure has long argued for leaner rainy-day funds.
No comments:
Post a Comment