Following the third public hearing, Cobb County’s Board of Commissioners adopted the FY21 budget July 31, 2020.
To prepare for possible rough times ahead, the FY21 budget makes the following adjustments:
- Assumes no growth in the tax digest for the coming year
- Significantly reduces capital expenditures
- Includes no pay raises for county employees
- Provides for no new positions and includes a hiring freeze
Financial ratings firms have given Cobb County a “AAA” rating for 23 consecutive years.
A large number of non-profit and intergovernmental organizations request financial assistance from the Board of Commissioners. When these organizations (grantees) receive county-funded grants, they become expenders of public money. It is also the Board of Commissioners’ responsibility to ensure judicious management of public funds awarded to grant recipients. Therefore, the Board of Commissioners may require a detailed accounting of all expenditures from recipients.
The acceptance of public money constitutes an agreement with the recipient to faithfully account for all monies received from the county. Grant recipients agree to maintain accurate records of the receipt and disposition of all county funds, and to make these records available for inspection and audit.