“We’re not sure what the future [holds],” county Budget Officer Bill Jackson said. “Although our economy is diverse, it is still based on oil prices, and they continue to be low. A lot of the development on the ground right now was started years ago.”
Jackson said the county’s balance sheet is strong due to paying down existing debt and getting tax anticipation notes in order. Harris County receives the bulk of its tax revenue near the end of its fiscal year in December or January, which is why tax anticipation notes have been needed in the past. Jackson said he expects the county will not need to borrow money on tax anticipation notes during fiscal year 2016-17.
“Our fiscal year starts March 1, so the tax anticipation notes are a mechanism given to governments to bridge that gap,” Jackson said. “We make a large payment on the last day of the year to pay that off.”
Officials continue to plan for future population growth in the county, specifically in areas, such as infrastructure and the hospital district.
