When Johnny Olszewski Jr. takes the oath of office Monday as the new Baltimore County executive, he’ll inherit a financial forecast for the county that could force him to consider raising taxes.
A new advisory report on county finances warns that Baltimore County cannot sustain its current rate of borrowing money for infrastructure projects.
Without significant changes — such as scaling back borrowing, raising taxes or forgoing pay raises for county employees — the county government risks having its credit rating downgraded, the report warns.
A ratings downgrade would make it more expensive for the county to borrow money to pay for construction of roads, schools, parks and other public projects.
C lick here to read the rest of the article written by Pamela Wood over at the Baltimore Sun