The Jackson County government is in the top 10 percent in the state in its per capita debt burden and county officials say the that paying that debt back will be a financial struggle through the year 2024.
As of March 31, the county’s outstanding debt totaled $179.3 million. The debt service per capita is $2,966.
From a cash flow standpoint, payments on the debt are set to rise rapidly in the coming years, consuming a higher percentage of the county’s budget.
Finance director John Hulsey presented a debt profile at an all-day Jackson County Board of Commissioners meeting Tuesday in Athens.
“Our debt would not look near as bad if the economy had not taken a nose dive,” BOC chairman Hunter Bicknell said. “We will be struggling until 2024 or until the economy picks up.”
For the full story, see the July 20 issue of The Jackson Herald.