Long-range financial planning still paying dividends in Lowndes Co.
LOWNDES COUNTY, Miss. (WCBI) – Long-range financial planning is still paying dividends for Lowndes County.
When the county sold the former Golden Triangle Regional Medical Center a few decades ago, it set aside the proceeds in a trust fund.
That decision is still paying off.
In years when the fund is doing well, Supervisors make an annual withdrawal.
That money allows the Supervisors to invest in capital projects.
Today, the Board held its annual Reserve and Trust meeting to examine the fund’s performance. determine how much to withdraw, and what to spend it on.
Overall, it was a good year. The fund made one point $8 million.
This year’s withdrawal will go to service debt on BankFirst Yards, the county’s newest baseball complex.
“It’s hard to do a year-over-year comparison, but the fund, some years it goes up, some years it performs better. This year has been a really good performing year. A couple of years ago, we were not able to make a withdrawal from the fund, so any year that you’re able to withdraw from it is a good year,” said County Administrator Jay Fisher.
The Hospital Trust Fund started at around $30 million. After this year’s withdrawal, the balance is just under $40 million.
