Macon-Bibb’s bleak financial picture gets a little rosier

Macon-Bibb County’s finances fared better than expected after projections were trending toward a $4 million deficit.

County commissioners were updated Tuesday about the end of the fiscal 2018 figures for the budget year that ended June 30. The news comes after officials spent the summer wrangling over a new budget that ended with another property tax increase.

County officials will receive more details on the fiscal 2018 budget next month.

Figures show an improved financial picture since revenue came in $2 million higher than budgeted. One factor was sales tax revenue trended upward in the spring, Finance Director Christy Iuliucci said.

“That’s gong to help us take care of some of the overages in the expenditures that we were projecting,” she said.

County leaders will have to address other concerns for next year’s budget when they look to find $8 million to cover the Other-Post Employment Benefit fund, which covers some benefits, such as health care, for retirees. The debate over how much funding will go to outside agencies such as museums could also re-ignite.

Tuesday’s meeting also brought out a group of Macon-Bibb business leaders to discuss concerns and make recommendations about how to solve some of the budgetary woes.

However, Tuesday’s financial update was a positive development to the grim financial picture for Macon-Bibb government.

“Instead of $4.2 million remaining in our fund balance, we’re going to have $5.5 million, which is extremely favorable,” Iuliucci said. “That’s due to being conservative with our revenue (projections) and having some positive things happen at the end of the year.”

The health care front also is doing better than expected through the first nine months since expenses came in about $1 million less than budgeted, said Matthew Arrington with Terminus Municipal Advisors.

Changes to the county’s health care plans could reap $2 million-$3 million in savings in 2019.

“The plans that we implemented last summer and this summer are showing their fruits right now,” Commissioner Virgil Watkins said.

This story was originally published October 23, 2018 at 3:57 PM.