CHAMBERSBURG, Pa. – Franklin County will save about $935,000 by refinancing $25.3 million in existing debt, beating earlier projections by approximately $150,000.
Chief Financial Officer Teresa Beckner told county commissioners Wednesday that officials had initially projected savings of about $785,000. The final interest rate came in at 2.974 percent, producing the larger savings.
The refinancing does not represent new borrowing and does not extend the county’s existing repayment schedule. Instead, the county is replacing higher-cost existing debt with lower-cost financing.
S&P Global Ratings also affirmed Franklin County’s AA bond rating with a stable outlook during the process.
Beckner’s midyear financial report showed general fund revenue of about $51 million through June, approximately $4.6 million higher than at the same point last year. General fund expenditures stood at 48.1 percent of the annual budget halfway through the year.
Across county funds, revenue totaled about $90.2 million through June, an increase of approximately $5.2 million from the same period last year. Beckner said county finances were generally performing as expected or better.
County expands substance-use recovery response
In other business, Franklin County will use a $229,000 state grant to add two certified recovery specialists to its co-responder program, expanding efforts to
connect people experiencing substance-use problems with treatment and other services.
The competitive grant from the Pennsylvania Commission on Crime and Delinquency requires no county general fund contribution. Commissioners approved an agreement with the Pennsylvania Mental Health Consumers Association to provide the services after the organization was selected through a request-for-proposals proce
Certified recovery specialists are people with lived recovery experience who receive specialized training to assist others dealing with substance-use disorders. The two specialists will work with people following substance-use crises and help connect them with treatment, recovery programs and other community resources.
The new positions expand on Franklin County’s existing co-responder approach, which pairs behavioral health services with law enforcement response. County officials said the goal is to reach people at a point when they may be more receptive to treatment and provide assistance that can continue after the immediate crisis has ended.
County honors CFO for public service
Speaking of Beckner, commissioners also recognized her for receiving the Government Finance Officers Association of Pennsylvania’s Recognition for Outstanding Public Service Award.
Beckner has worked for Franklin County for more than 20 years and currently oversees the county’s fiscal operations. Commissioners credited her with helping strengthen the county’s financial practices, including its approach to investments and accounting.
Commission Chairman Dean Horst presented the recognition, praising Beckner’s work on behalf of the county.
Beckner said the award reflected the work of the county’s fiscal staff, rather than her efforts alone.
