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Mathews board receives financial review from Davenport

The Mathews County Board of Supervisors heard a presentation from a representative of its financial advisor, Davenport and Company, during the board’s March 21 meeting.

Accompanied by a slide presentation, Kyle Laux, senior vice president for Davenport, provided supervisors with a comprehensive financial review, suggesting that the county can maintain a strong general fund while undertaking capital projects over the next four years for immediate needs that total $9.2 million. He said that in order to accomplish this, the county should first open a line of credit of $5 milion to $7 million to cover the up-front cost of grant-funded projects, then take on long-term debt for county-funded projects as needed. He said that his company’s goal is to help the county deal with its debt in a sustainable and financially responsible manner.

Laux reviewed how a dozen localities in the surrounding areas compare to Mathews demographically and financially and discussed how they are handling suc...

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