The conversation about Bexar County's financial future continues, with county officials now pondering a hiatus on new debt to preserve its AAA bond rating. As San Antonio Report details, the county, bearing the highest debt per capita amongst Texas counties at roughly $2.5 billion, received warnings from rating agencies about the repercussions of its borrowing habits.
In response, County Manager David Smith suggested the potential moratorium during a work session last Tuesday, having the intent to curb fresh debt for 18 to 24 months. He previously explained to commissioners, "For an abnormally long period of time interest rates have been very low, so in a sense, it made sense to borrow." The San Antonio Report reported that not adding to the existing debt could enable the county to pay down about $100 million each year, bolstering its financial stance.
Meanwhile, public input is sought for the new budget, with County Commissioner meetings drawing crowds like at a recent event in a Meals on Wheels location, as per FOX San Antonio. Public safety, fiscal responsibility, and infrastructure are among the priorities highlighted by Commissioner Grant Moody. "Everything we do affects one another," Edmund Olszewski, an attendee, shared with FOX San Antonio during the budget meeting.
However, with the prospect of delaying key projects like The Link and an advanced manufacturing training facility, there's concern among county leaders. Precinct Four Commissioner Tommy Calvert noted the disruptive impact of rapidly changing watersheds due to development, emphasizing life safety concerns tied to flooding and drainage. In light of these concerns, Commissioner Moody advocated for taking steps to provide "some breathing room when it comes to our debt," reported FOX San Antonio. Judge Sakai echoed these sentiments, stating in an after-meeting interview that the viability of outstanding projects needs reevaluation.
The first budget draft will be presented to commissioners next Tuesday, influenced by these discussions, with a deadline for a final vote scheduled for September 10. Further opportunities for public engagement include meetings scheduled with Commissioner Justin Rodriguez and Judge Sakai today, at the Westside Education & Training Center, and with Judge Sakai and Precinct One Commissioner Rebeca Clay-Flores on August 21, at the CentroMed Health & Wellness Center, as reported by FOX San Antonio.
