Leo Lew / YouTube
Pinal considers $59M in debt for major projects
By Brian Wright Maricopa Monitor
Improvement projects come with a price tag, and if Pinal County decides to move forward with several big-ticket initiatives, it could add up to $59 million to its current debt.
It’s well known that Pinal County’s finances aren’t in good health, but some county leaders say the new debt would not put the county at further financial risk.
In March, county budget director Leo Lew gave a presentation that showed the county’s general fund balance dwindling close to zero in just two years — if the county decided to keep a flat property tax levy.
In that scenario, the county’s general fund balance went from about $40 million to $2.7 million at the conclusion of Fiscal Year 2017.
