12/24/2022
In January 2020, Lawrence County did not have enough cash-on-hand to make its payroll without a bank loan and was coming off of four straight years of operational deficits.
Over the past three years, the current Board of Commissioners has made it a priority to rebuild Lawrence County’s finances and reposition the county for future success.
I’m proud to report that because of the hard work of our financial team (and even factoring out COVID-19 stimulus funding), we have fully rebuilt the county’s operating reserve, fully rebuilt the county’s capital fund, have a fully funded pension, have paid down $6M in outstanding debt, and our fund balance has grown from less than $500,000.00 in January 2020 to over $10,000,000.00 in December 2022.
We’ve also never run a deficit, even without COVID-19 stimulus funding.
Lawrence County - and the next Board of Commissioners - is now well positioned to effectuate meaningful change in our communities and assist in the revitalization of main streets and neighborhoods from New Wilmington to Ellwood City.
A Lawrence County commissioner has shared good tidings regarding the county’s financial stability.