In a recent government meeting, officials provided a detailed overview of Rock County's general obligation (GO) debt and its financial standing for 2023. The county's GO debt limit, calculated at 5% of the equalized value of all property, has seen a notable increase of 13.4% compared to 2022, reflecting the growth in property values. Currently, the county's outstanding GO debt stands at approximately $109 million, utilizing only 11% of its debt limit.

The county issued $61.6 million in debt this year, primarily funding projects such as the human services building, the construction of a new 911 communication center, and the sheriff's office. Comparatively, Marathon County, a smaller jurisdiction, operates at 12.5% of its debt limit, highlighting Rock County's conservative approach to debt management.

Financial metrics presented during the meeting indicated that Rock County's debt service expenditures remain stable, constituting about 3.9% of non-capital expenditures, well below the 20% threshold considered healthy for financial standing. This consistency suggests a manageable level of financial risk, which is favorable for the county's bond rating.

The meeting also addressed proprietary funds, including Rock Haven and Highway operations. Despite initial operating losses, these funds reported positive changes in their financial positions after accounting for non-operating items and transfers, with Rock Haven showing a $7.5 million increase.

Additionally, the county's investment in capital assets was discussed, revealing a healthy debt-to-equity ratio of 0.58 for Rock Haven, indicating that 63% of its capital is funded by equity. The Highway fund operates entirely on equity, with no debt.

A notable point of discussion was the anticipated sale of the old job center property, which had been expected to generate $400,000 to reduce debt. However, delays in the sale have led to adjustments in the budget, with funds from the general fund temporarily supporting highway projects until the sale is finalized.

Overall, the meeting underscored Rock County's prudent financial management and strategic planning as it navigates its debt obligations and capital projects.