Barnstable County finance director: reserves healthy but long-term liabilities loom
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Summary
At a July 23 meeting, Finance Director Carol Coppola told county commissioners that Barnstable County’s reserves and short-term indicators are strong but that long-term liabilities — including PFAS remediation, pension and OPEB, and deferred maintenance — total in the hundreds of millions and will require sustained planning.
Barnstable County Finance Director Carol Coppola told the board of regional commissioners on July 23 that the county enters fiscal 2026 in a relatively strong short-term financial position but faces large, looming long-term liabilities that will require sustained planning. "The county remains financially strong going into the current fiscal year of 2026," Coppola said, noting sizable stabilization reserves, the OPEB trust and unreserved fund balances for FY2025. But she warned those successes are “under the shadow” of long-term liabilities. Coppola presented apples-to-apples, inflation-adjusted trends and said revenues have largely flattened since the post‑2021 spike tied to one‑time real estate activity. She recommended a five‑year forecast and continued work on capital planning. The report listed specific long‑term obligations discussed at the meeting: a PFAS settlement in the town of Barnstable of $4,400,000 as of June 30, 2024, an estimated PFAS remediation scope that could be as much as $60,000,000, $15,000,000 already appropriated (including $4,000,000 from ARPA and an $11,000,000 SRF loan), a county pension shortfall reported at $36,700,000 as of June 30, 2024 (with funding timed to reach full funding by 2037), and an OPEB liability reported at $18,300,000 (Coppola said the county was about 19% funded in FY2024). Coppola also cited deferred maintenance reported in the county master plan at about $71,000,000 and noted roughly $21,000,000 of previously authorized debt that has not yet been issued. She cautioned that some capital projects will be borne by the county until and unless the state reimburses its proportional share under existing court facility leases. Commissioners discussed options including borrowing for large capital needs, further refining the five‑year forecast Coppola proposed, and clarifying what county services municipalities expect the county to provide. One commissioner said the next budget cycle should begin the first stages of implementing a long‑term plan. The board did not adopt a new policy at the meeting. Staff were directed to bring final FY2025 close figures when available and to schedule a more in‑depth, workshop‑style discussion to develop budget‑cycle steps for addressing long‑term liabilities.