You know I make a lot of jokes about how the administration is running scared of the big bad bogey man called "debt."
(I'd link to some of my previous posts about it, but, well, I'm too lazy. I encourage you to read the archives anyway.)
Anyhoo, the administration always reports it as $628.5 million. But, it's actually more. Try $1,057,700,000, according to a long-term debt obligation worksheet I asked the finance office to send over because I'm bored. Yeah, that's just over one BILLION dollars. If you include bonds issued for pension plans, capital projects, P-card reimbursements (OK, kidding on that last one), then the total principal comes to $691.2 million. Then throw in another $366.5 million in interest, and you're on the hook for some mega-coin.
Granted, this is scratch that will be paid off over the long-term. But they payments represent 10 percent of the county budget. (So, let's hope that county Mayor Tim Burchett keeps his campaign promise about not assuming more debt in the near future. Personally, I think he will, although he has an escape clause for Carter Elementary.
But, still, if I was running the show - and I'm not only because the News Sentinel pays me way to much money to quit and run for mayor (oh, and no one would vote for me anyway) - I wouldn't be selling the whole $628 million debt thing.
Hell, no. I'd be telling everyone we owe a BILLION.
But, that's just me. What do I know?
That's my free advice to the administration for today. Tomorrow, I'll figure out a way to kick them in the nads.