Virginia has stopped reporting billions of dollars in unfunded county debts, leaving the public in the dark about the depth of the red ink.
The last online report by the state Auditor of Public Accounts showed that Virginia’s 95 counties had piled up $15.4 billion — $15,474,494,443 to be exact — in “unfunded debt” in 2012.
Every county listed some unfunded balance, ranging from Highland’s $934,771 to Fairfax’s whopping $3,907,246,725.
Raw numbers tell only part of the story, however.
Fairfax has less debt per-capita than many other jurisdictions because it is Virginia’s most populous county and generates hundreds of millions of dollars in tax revenue.
Rural King George County — with an unfunded debt of $97,347,822 — carries a $4,230 debt for every man, woman and child.
The average county per-capita debt ran around $2,000 in 2012.
Other comparisons can be useful to advocacy and tax-watch organizations.
David Sparkman, a former leader of the Northern Shenandoah Tea Party, noted, for example, that his county, Frederick, had $175 million in unfunded debt versus gross income of $120 million.
But year-to-year and county-by-county comparisons are no longer possible now that the Auditor of Public Accounts has stopped collecting data on unfunded debt.
The APA says the move was made to give counties “more leeway,” presumably to amass more debt. Omitting the data was the recommendation of an advisory panel composed mainly of local officials.
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