Guilford County’s long-range look ahead at construction projects and how to pay for them raises more questions than answers.
The proposed capital investment plan released last week predicts the county could need $1.3 billion over the next decade. Funding mostly would come from indebtedness, local funds and state and local monies.
As already approved bonds are issued, the debt only grows. At the current pace, the county would exceed guidelines for general obligation debt in fiscal years 2011-16.
School construction and renovation are the top priorities, accounting for 76 percent of costs. Emergency medical services, parks and water projects also are in line for funding.
While it’s important to plot future expenditures, commissioners also should examine possible cost-cutting measures and alternative funding options.
One sure way to save tax dollars is to combine duplicated services with Greensboro and High Point. Some progress has been made, but there’s lots of room for more.
Taxpayers, many of whom pay both city and county tax bills, would see greater efficiency and savings from closer cooperation.
Turfism and parochial interests still hold too much sway among some old-guard leaders, but taxpayers simply want results. It shouldn’t matter, for instance, whether a patrol car answering a call says “Greensboro,” “High Point” or “Guilford Sheriff.”
Now also may be the right time to dust off the “Legacy Fund,” an idea floated in 2006 that called for a pay-as-you-go approach.
The fund would add 5 cents to the property tax rate over 20 years, creating a $1 billion endowment to pay for major projects.
Although a lack of long-range planning is clearly responsible for at least part of the county’s huge debt, paying now for future gains remains a hard sell. And the kitty could be raided before maturity.
The point is to be more open to new approaches.
Now more than ever, troubled economic times call for creative solutions.
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