Stew Lilker’s

Columbia County Observer

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Finance 101
Commissioner Nash Does the Numbers

Commissioner Nash Continued

Mr. Nash:  "What I'm doin', in my mind here, what I'm thinkin' is, you got an escalating cost - I'm ignoring your last million dollars -unintelligible- (laughs). But I know it's there. If you take escalating costs - what you had in here - what I am workin' off, 1.1, and then you got a contingency of 1.8 - and then you've got your overhead of -unintelligible- you know trailers, rent, and all that stuff –unintelligible-. So that's 4.3, almost 4.4. If we could, on the right side of life, recapture half of that -- and through the process -- now we are down to 25 million dollars -- that we are lookin' at financin'."

It didn't appear that any of The 5 knew what he was talking about.

Commissioner Williams added, "That's our optimum –unintelligible-."

Mr. Nash: That's called a pod and a half. If you do that, now you're around 25. No. I'm just usin' these numbers -- they can go up -- I was usin' em' to -- for -unintelligible- for what we're talkin' about here. Now, for the board, we presently have a loan, $8 million, at 2.8. Ok. Cause I'm not really -- the reason I am doin' this -- I'm not really lookin' at the overall number -- 25 -- 26 -- unintelligible -- the debt service that's gonna' fit into our budget. Ok. So basically if you got you're 8 million and your payin' it off semiannually -- July and December -- and by the time you get this thing complete we'll be under $7 million -- paid it -- so you have a million-dollar -- if you want to go re borrow that back. You see what I'm sayin'? (nobody volunteered that they saw it) I'm getting to that point."

"Perfect Timing – Whatever it is"

Mr. Nash: "All right -- now, if we could stay -- if you stayed in the $25 million range and we go -- we borrowed another 17. You see the thing about it is I think the timing that we created is somewhat a perfect timing because we got two budget cycles. Now, we're getting up for the first time. We've got $8 million and we've started, it's goin', and then as we work through our budget, now we're gonna' figure out what's the other 17 come from. 17 -- 18, whatever it is. Ok."

"So basically, if -- what reason I wanna' hone down the numbers -- cause' if we took 17 million we borrowed at three and half for 15 years, we're lookin' at 1.4 payback a month on that -- to be added to the six that we're already doin'. Now, we are right at that $2 million mark. Ok."

"Now, if you go back, if we don't have the money we're gonna' scale down. That 17 million, maybe we can stretch it out to 20. Now that becomes -- payin' it down to 1.8."

"Now, what I am gettin' at here is if we get, as we're movin' along and these numbers -- cause' at the end -- whatever the end number is we gotta' be able to pay for it."

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